Pivotologist
Short

Bitcoin -- Another Pump & Dump may be underway.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Another pump and dump may be underway.

This is just an interesting way to look at BTC . Enjoy.
Comment: Well, look at what happened:

Comment: BTC must break previous high, if we go lower from 8400 now (which I think will happen), then we have created a higher low, and it will still be bearish.

If we have another drop, I do think this will be the worst one yet, taking us well below $6000. I could be wrong though because lot of wise guys are predicting about $15,000 by October.

The thing is, Vegas has prop bets for Bitcoin now, and based on the payout odds, 5-10k is where they think BTC will be at by EOY.

Enjoy my thoughts to anyone still looking at this.

Comments

You're thinking the same way I do.
+1 Reply
@disobey, great minds think alike
Reply
If there is a pump and a dumb to be had. Then a long and short for more profit.
+1 Reply
Pivotologist jordymcnab
@jordymcnab, True, but no guarantee it will play out this way.

Also, if anyone is thinking of investing for the long term, I don't think they'd be too pleased to see this interpretation.

Further, it shows holding is risky, and trading is better, which is something bad for cryptocurrency in general.
Reply
As long as there is a pump that who cares!
+1 Reply
Pivotologist ThumbSkin
@ThumbSkin, Partially agree, but it's not a good thing for holders like me.
Reply
lol
+2 Reply
Pivotologist FRXMACHNE
@FRXMACHNE, I know it's funny, but it could be true too! ;)
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FRXMACHNE Pivotologist
@Pivotologist, yeah anything is possible but for now, it is clearly a bull sign. SEC gave Coinbase the clear to trade tons of alts. SEC hearing on crypto Wednesday. SEC approved Bitpay regulation license in New York.
+1 Reply
Pivotologist FRXMACHNE
@FRXMACHNE, Yes, if you're a technical trader things look pretty good. You guys need to break the inverse H&S neckline, then you'll be looking at a target of 7800 or 8400, then a possible reversal. I think the 6800 break will happen with a small rally. I'm not so interested in that. Hope it works out for you all, but I'm interested in a very good entry so I can hold.
Reply
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