BTC update on 03.09.2018
Hello Everyone!
We certainly hope you are following closely on our bitcoin and alts markets updates!
What is happening on bitcoin we have long been waiting to shed some positive signs as we seeing them now!
Lots of times when everyone was bullish Bitcoin Compass was warning you to stay safe and keep out of the markets.
We shared with you that our team is staying mostly in fiat currency anticipating further drops in the market.
Here you will find our detailed analysis on multiple timeframes.
During past few hours we noticed a sizeable increase in Bitcoin short positions. More than 2500 BTC were shorted on spot market on bitfinex alone!
Did it lead to a price drop? NO!
It comes to tell us there is a very big demand on BTC even at current price levels. What happens in situations like these? Price increases!
As you see on the lowest timeframe bitcoin formed a bullish pennant and broke above it. Sustained on the retest. This gives us confidence we are headed UP to our next targets, which are:
$7400 - previous top
$7495 - retracement of the previous downtrend - KEY LEVEL
$7700 - end target of current downtrend.
This means our team is gradually taking long positions and sparing some small fiat to buy an upcoming dip if any.
Short positions will be trap as market makers won't be willing to allow them any space for breathing.
Be careful when shorting this market!
The trend is your friend.
Hello Everyone!
We certainly hope you are following closely on our bitcoin and alts markets updates!
What is happening on bitcoin we have long been waiting to shed some positive signs as we seeing them now!
Lots of times when everyone was bullish Bitcoin Compass was warning you to stay safe and keep out of the markets.
We shared with you that our team is staying mostly in fiat currency anticipating further drops in the market.
Here you will find our detailed analysis on multiple timeframes.
During past few hours we noticed a sizeable increase in Bitcoin short positions. More than 2500 BTC were shorted on spot market on bitfinex alone!
Did it lead to a price drop? NO!
It comes to tell us there is a very big demand on BTC even at current price levels. What happens in situations like these? Price increases!
As you see on the lowest timeframe bitcoin formed a bullish pennant and broke above it. Sustained on the retest. This gives us confidence we are headed UP to our next targets, which are:
$7400 - previous top
$7495 - retracement of the previous downtrend - KEY LEVEL
$7700 - end target of current downtrend.
This means our team is gradually taking long positions and sparing some small fiat to buy an upcoming dip if any.
Short positions will be trap as market makers won't be willing to allow them any space for breathing.
Be careful when shorting this market!
The trend is your friend.
We provide:
-Charts
-Education
-VIP trade calls
-AI Trading
Binance reg.link: www.binance.com/?ref=36253371
Join our Discord: discord.gg/nqSJFKc
Make a Tradingview account: tradingview.go2cloud.org/aff_c?offer_id=2&aff_id=13523
-Charts
-Education
-VIP trade calls
-AI Trading
Binance reg.link: www.binance.com/?ref=36253371
Join our Discord: discord.gg/nqSJFKc
Make a Tradingview account: tradingview.go2cloud.org/aff_c?offer_id=2&aff_id=13523