(CME vs Bakkt) .. Why they said, Buy the Rumor and Sell.... ?!
Hey guys, today topic is very interesting and something that i have noticed since a while(CME) ... I think its the right time now(Bakkt) to share with you and let me know your thoughts about it...
Fundamentals analysis is great indeed but i rarely believe it works for me more than TA. Because simply you can't know When the market will react to this news or How! .. But when HUGE news come up, I will make sure to spend time to evaluate it and see the related outcome that could match with TA view.
We all know the famous phrase (Buy the rumor .. Sell the news) “sell the fact” or, in other words, close positions that have opened ahead of the news .. a day or two before release......?!
5 days ago,
Aug 16, 2019 Bakkt announced launch of bitcoin futures on Sept 23.
This is a huge news and remind me with CME similar announcement in a few things :
Bakkt
1-release date is so close after announcement.(1month and 7days)
2-price level of btc when they announced the release date .. +10k
3-price dipped a little after announcement before resume uptrend
CME
1-Oct 31, 2017 CME announced launch of bitcoin futures on Dec 18.(1month and 18days).
2-price level of btc when they announced the release date .. 7k
3-price dipped a little after announcement before resume uptrend
............................................
Dec 18, 2017 CME launched it where btc was at 19k and price started to correct since that time. (BTC DOOMSDAY) imo .. lol
So the launch was a bad thing indeed!
CME had no effect when they announced the launch of bitcoin futures, price was already in a clear strong UPTREND at 7k not at 1k and its also dipped below 6k after the announcement before resuming uptrend towards ATH...Yep, look to the chart!
Bullish market in alts takes few weeks / in btc it takes few months before start to correct for long period of time ... the day btc futures launched was really VERY CLOSE after the announcement and it was very bad for crypto since that date without any effect on the price movement else btc should reach 1k and remain there for ever but obviously btc bottomed at 3k (major wave 4) and didn't take anytime to consolidate like before(major wave 2), it started to jump right after ... 14k so far!.......... (In a few months)
............................................
Conclusion:
-We still have our bearish condition active since Jul 16 which is a close below Blue uptrend & Green support lines with 1d/2d candle.
-Uptrend still clearly intact (check previous ideas below for detailed view)
-The similarities of this news as we discussed matching my TA view .... AS IT JUST CAME IN TIME! to point more accurate date range for my target to be out of the market! ... no matter what is the price will be!! well .. maybe.
-I am not saying exact same thing will happen again and that day will have the highest peak/price for current bull run that won't be wise thinking and it doesn't match my wave count/pattern as well.
Most possible scenario matching my TA is that date range (before/after) will be the top of wave 3 in major wave 5 that started at 3100 ... massive correction will follow up like 5 or 6k dump .... lets say that will happen and most of people will realize that the same case with CME happening again ... everyone start to short and a strong impulse wave up liquidate all of them with higher high wave 5 in 5 before starting bear market.
4H chart: show price failed to stay above 200ema after breakout of descending channel and now it retraced to test it ... hidden bearish div as well as H&S did play well to dump price again which target has been reached ... lets watch whatever coming next will be so interesting!!
--- We are using a little logic for future predictions for overall TREND that we don't have any TA data or price action to analysis yet ... for sure we will have it at that time and it will guide us.
>> This is my own personal view/plan and none of our ideas stand as financial advise OR buy/sell signals ... We are holder, we only trade the overall trend ... Trade at your own risk!!
Previous idea:
Daily BTC Chart: Still Show all this bullish signs..?!
BTC: Isn't The Trend is Your Friend, Until it Ends?!
Fundamentals analysis is great indeed but i rarely believe it works for me more than TA. Because simply you can't know When the market will react to this news or How! .. But when HUGE news come up, I will make sure to spend time to evaluate it and see the related outcome that could match with TA view.
We all know the famous phrase (Buy the rumor .. Sell the news) “sell the fact” or, in other words, close positions that have opened ahead of the news .. a day or two before release......?!
5 days ago,
Aug 16, 2019 Bakkt announced launch of bitcoin futures on Sept 23.
This is a huge news and remind me with CME similar announcement in a few things :
Bakkt
1-release date is so close after announcement.(1month and 7days)
2-price level of btc when they announced the release date .. +10k
3-price dipped a little after announcement before resume uptrend
CME
1-Oct 31, 2017 CME announced launch of bitcoin futures on Dec 18.(1month and 18days).
2-price level of btc when they announced the release date .. 7k
3-price dipped a little after announcement before resume uptrend
............................................
Dec 18, 2017 CME launched it where btc was at 19k and price started to correct since that time. (BTC DOOMSDAY) imo .. lol
So the launch was a bad thing indeed!
CME had no effect when they announced the launch of bitcoin futures, price was already in a clear strong UPTREND at 7k not at 1k and its also dipped below 6k after the announcement before resuming uptrend towards ATH...Yep, look to the chart!
Bullish market in alts takes few weeks / in btc it takes few months before start to correct for long period of time ... the day btc futures launched was really VERY CLOSE after the announcement and it was very bad for crypto since that date without any effect on the price movement else btc should reach 1k and remain there for ever but obviously btc bottomed at 3k (major wave 4) and didn't take anytime to consolidate like before(major wave 2), it started to jump right after ... 14k so far!.......... (In a few months)
............................................
Conclusion:
-We still have our bearish condition active since Jul 16 which is a close below Blue uptrend & Green support lines with 1d/2d candle.
-Uptrend still clearly intact (check previous ideas below for detailed view)
-The similarities of this news as we discussed matching my TA view .... AS IT JUST CAME IN TIME! to point more accurate date range for my target to be out of the market! ... no matter what is the price will be!! well .. maybe.
-I am not saying exact same thing will happen again and that day will have the highest peak/price for current bull run that won't be wise thinking and it doesn't match my wave count/pattern as well.
Most possible scenario matching my TA is that date range (before/after) will be the top of wave 3 in major wave 5 that started at 3100 ... massive correction will follow up like 5 or 6k dump .... lets say that will happen and most of people will realize that the same case with CME happening again ... everyone start to short and a strong impulse wave up liquidate all of them with higher high wave 5 in 5 before starting bear market.
4H chart: show price failed to stay above 200ema after breakout of descending channel and now it retraced to test it ... hidden bearish div as well as H&S did play well to dump price again which target has been reached ... lets watch whatever coming next will be so interesting!!
>> This is my own personal view/plan and none of our ideas stand as financial advise OR buy/sell signals ... We are holder, we only trade the overall trend ... Trade at your own risk!!
Previous idea:
Daily BTC Chart: Still Show all this bullish signs..?!
Trade active:
BTC: Panic Sell OR Buy ... Next? -- ( click to read )
