Heyy friends , cant say trust today by watching BTC chart.
For me this begin breakout is very weak and represent weak traders, those same 90% losing at trading , weak because dont want taking risky position , scared , and prefer wait to see where it will go ...
by doing this , they are giving the cards to 10 % strong people winning , same big wallet and capital ... try to find the good question....
what they want ? to guess that , just make research and see what they want YOU to think .... if 90% news are "positive or .... they want you to think its time to buy !!! what happen to 90% trader ? did they bought support ? i dont think, they already got many Bitcoin ready to sell. AND there is many other traders already opened short order @7100~7400$
the worst is all things entery in futures go only down and down !
This week will give many indications. may be a long low moves is may be a good thing ... psychologicly hard for sure ...
Perfectly looked on Ichimoku D1 , and ichi indicate descrease come. we have to cross it , it wont be hard normaly
I hope i'm wrong , and want to believe its an accumulation phase , but this is my felling today. this week will be long.
kiss kiss
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Heyy, here we are , as i felt weak hand buyers futures and "they" dont want a strong btc ... here the result
I agree and get the feeling that BTC is being propped up only until the futures close this month. That's why Bitfinex is continually 50-70 point above pretty much every other BTC exchange. Wall Street complained about BTC volatility, claiming they'd like to speculate on the price without the risk of holding the coin. But it's evident that the same whales speculating are are holding coins now, to make sure to make the most of their futures contract. So what happens when an exchange starts doing that as well, speculating in futures while longing and shorting to keep BTC right where they'll receive the most? Well, you end up with a 70 point arbitrage.
As you say, the futures entries are all pointing to expectation of a downtrend as well. That can only be indication of where we are headed next, once this month's contracts close. All you have to do is start making charts off of Coinbase or Bitstamp numbers (or Kraken, Liquid, Gemini, etc) and any imaginations of bullishness is clearly shattered for the moment.
cryptonitro
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@Jeff_Cryptopop, agree , thanks for your interest and your comment .
As you say, the futures entries are all pointing to expectation of a downtrend as well. That can only be indication of where we are headed next, once this month's contracts close. All you have to do is start making charts off of Coinbase or Bitstamp numbers (or Kraken, Liquid, Gemini, etc) and any imaginations of bullishness is clearly shattered for the moment.