Remember how I kept posting about the shifting channel we were getting in BTC represented by this Gold trendline? About this massive purple trend line keeping BTC down? About not having any volatility?
We just got everything in one evening.
1. Broken Trendline. Check.
2. Broken Wedge to the upside. Check.
3. Broken RSI wedge. Check.
USDT scare drove price up. Right now we are getting some disparity on different exchanges. On Bitfinex for example, we have BTC printing around $6,900, but on Gemini and Coinbase we are printing around $6,400. If this dispairty holds, this will be very good and will drive prices higher. Bots (and people) will begun buying cheap BTC from USD on Coinbase and GDAX and selling it higher to profit, or just holding knowing they can sell it higher. Think about a bot making a $500 tick every time they buy and sell almost instantly. Arb bots have been dormant for some time, I bet they get turned on agian. Ultimately, if we see this price disparity continue, we will see prices go higher substantially.
Volatility returning is great news. It will bring in more action, more buyers and attract people that have been on the sidelines.
BTC to 10k, looking a lot better after last night.
You all know where I am long from. Still holding.
-Sherem
We just got everything in one evening.
1. Broken Trendline. Check.
2. Broken Wedge to the upside. Check.
3. Broken RSI wedge. Check.
USDT scare drove price up. Right now we are getting some disparity on different exchanges. On Bitfinex for example, we have BTC printing around $6,900, but on Gemini and Coinbase we are printing around $6,400. If this dispairty holds, this will be very good and will drive prices higher. Bots (and people) will begun buying cheap BTC from USD on Coinbase and GDAX and selling it higher to profit, or just holding knowing they can sell it higher. Think about a bot making a $500 tick every time they buy and sell almost instantly. Arb bots have been dormant for some time, I bet they get turned on agian. Ultimately, if we see this price disparity continue, we will see prices go higher substantially.
Volatility returning is great news. It will bring in more action, more buyers and attract people that have been on the sidelines.
BTC to 10k, looking a lot better after last night.
You all know where I am long from. Still holding.
-Sherem
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For the new readers of my posts, I identified this gold shifting trendline and stuck to my guns way before anyone posting on TV. Here are some earlier updates:
As early as LATE AUGUST!!!
As early as LATE AUGUST!!!
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Here's another idea I posted comparing BTC to BTC 2014.
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For those questioning Tether, this happened lsat November before the major bull run, just as an FYI.
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Look at this folks. Tether is doing exactly what it does, reverting back to it's mean and BTC isn't going back down
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And as an FYI, here is what I mean by confirmation - On places like Bitstamp and Coinbase this trend line has been pierced but not broken.