Gelium
Short

Bitcoin: Sell setup.

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Breakdown of the support level and continuation of the downward trend.
Feb 02
Trade active
Feb 02
Comment:
Feb 06
Comment:
Feb 06
Comment: Ideal storm for crypto markets.

Now several factors act immediately in favor of devaluation of crypto currencies:

1. Decrease in speculative activity after New Year's holidays on the background of disappointment due to correction and resetting kriptovalyut large holders on the most hayah. The others are offended.

2. Emphasize the attention of news resources more often on negative news for crypto-currencies. He works in a closed chain: they see a decline in prices, they look for reasons in the form of bad news, they replicate the bad news they find, they receive a reaction in the form of further reduction. And so on a circle.

3. The beginning of correction in commodity and stock markets will have a negative impact on crypto-currencies.

4. February expiration of bitcoin futures will also give an impetus to the prevailing trend at the time of expiration. Most likely, at this time the downward trend will continue. The media will further aggravate the negative about the stock markets.

As a result, while in February, excellent conditions for the collapse of prices for crypto-currencies are developing.
Feb 06
Comment:
Mar 01
Comment:
Mar 01
Trade closed manually
Could it really drop to 3000USD? Wow..
Reply
Gelium DarianSteyn
@DarianSteyn, Why not? If there is no speculative demand, what else does bitcoin need?
Reply
Gelium DarianSteyn
@DarianSteyn, We see the demand graph for bitcoin transactions: https://blockchain.info/en/charts/mempool-size?timespan=60days
And where is the money of the crowd of speculators?
Reply
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