NewMexCapital

Place your bets gents because BTC is preparing for a huge move

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar

BTC is preparing for a big move, probably 50%, it could be even more if it chooses to go up. If you look at the volatility chart you will notice that every time volatility was so low on the 3d chart BTC made a move of at least 42% and in a few days BTC will have to choose a direction because we are getting very close to the apex of the small triangle and the break from the small triangle should be strong enough to cause the break from the big one. On the upside there is a lot of resistance, we have to break all of the 0.65s that sent us down and the SMA200 which is at the resistance of the big descending triangle . Things are about to get very interesting. We favor the the break to the downside but we are also prepared for the scenario in which it breaks to the upside.
Traders don’t gamble, especially in no trade zones like this.
Stay out in FIAT till CME settlement and ETF result, then buy the breakout (downside either upside)
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bear break - 75%
+1 Reply
NewMexCapital DrahoslavPalus
@DrahoslavPalus, The uninterrupted series of Lower Highs since the ATH suggests that but sometimes descending triangles do break to the upside and it could be a much more profitable trade. Just be careful because you do not want to be on the wrong side of this trade.
+2 Reply
DrahoslavPalus NewMexCapital
@NewMexCapital, thank you, it's absolutely possible we will break up. I am prepared for both scenarios. But for me nothing suggest that we have already approached bottom of the market as there is almost no liquidity - very small volume in long term. So it seems the buyers are not interested yet and they are waiting probably for lower prices.. 1 month BTC macd looks terribly bearish as well
+1 Reply
NewMexCapital DrahoslavPalus
@DrahoslavPalus, we also believe this and the more we stay in the triangle the lower the bottom may be.
+1 Reply
DrahoslavPalus NewMexCapital
@NewMexCapital, good luck guys!
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NewMexCapital DrahoslavPalus
@DrahoslavPalus, Likewise!
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matthevandaalen DrahoslavPalus
@DrahoslavPalus, volume this low means nothing at this stage. You are not buying too right? We all wait. It will be explosive up, now or after a small breakout, fakeout to the downside. Too manu are affraid to miss out for the rally in november. BAKKT will create hype. TA has its limits, fundamentals will take over
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