Bitcoin's getting ready for 8k. (How tall is Mt. Everest?)
Entry: 7k Target: 8k Stop-Loss: 6.9k -> tight as always, so we can be wrong 5 times and right 1 time and still win $. This is subjective strategy, and readers can devise their own entries, targets and stop-losses from this analysis.
FA:
unprecedented influx of newcomers again, viz Google trends
exchanges can't keep up with registrations
taxi drivers, hairdressers, postmen and their dogs are literally fighting each other in the lines to get their hands on their bitcoin, spamming support: ,,When approve I sent all ID I want my Bitcoin, it will be 100k in a week, QUICK!"
Price action:
We were bearish on our last analysis, calling Wyckoff Top. Yes, very sweet, keep reading...
Unkown entity took over since 6k.
Perhaps this unknown entity is CME as today they announced their humble goal to wanna control Bitcoin
Since Segwit on Aug 1st, price 2k, rallies were led by Spoofy on Bitfinex who was pumping till 6k, flashing massive bids and crashing thin or fat asks, no questions asked.
NOW, after 6k finex is lagging and it's GDAX + Stamp who are pushing this, with GDAX always leading $50+ during new highs
Let us be right this time and make 5x more profit than we lost the last time.
Now we can fail 9 more trades or we can nail them.
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