bshgeo

BITCOIN BOOST FROM TETHER SCARE ?

POLONIEX:BTCUSDT   Bitcoin / Tether USD
BTC TURNED UP ON A TETHER SCARE AS BITFINEX THE TETHER (USDT) OWNING COMPANY AND THEIR AUDITING FIRM ANNOUNCED THEY HAD TERMINATED THEIR RELATIONSHIP. IT APPREARS ON THIS NEWS MANY WHO WERE IN TETHER BOUGHT COINS BELIEVING IT WOULD BE A BETTER PLACE FOR THEIR FUNDS. WHETHER ANY OF THIS MATTERS I DO NOT KNOW AND HAVE NOT HEARD THE LATEST NEWS. BUT AS SAID ALL ALONG WHEN BTC BOTTOMED OUT A TONE OF CASH WAS WAITING TO COME BACK IN. IT APPREARS THIS IS WHAT GOT THIS NICE BOUNCE UP KICKED OFF.

LOOKING TO THE CHARTS IT LOOKS LIKE BTC HAS A TEST TO GET SOLID UP AND OVER THE 1200 LEVEL. LOOK FOR BTC TO HIT RESISTANCE AT ALL THE ROUND NUMBERS ON ITS WAY UP FROM 12000, 13000 TO STRONG RESISTANCE AT 14400 LEVEL. A REVERSAL DOWNWARD REMAINS POSSIBLE AT EACH RESISTANCE LEVEL . ALSO, AS THE RUMORS OF A TETHER ISSUE FADE IT MAY REDUCE SUPPORT FOR BTC RESULTING IN RETURN TO DOWN TREND AS THE BOTTOM TARGET HAS YET TO BE REACHED AT 8700 RANGE.

ETH IS ALSO BULLISH AND IT MAY REACH UNLTIMATELY $4000 ON THIS PUSH UP. I WOULD KEEP AND EYE ON ETH AS IT HAS BEEN BEHAVING BULLISH FOR SOME TIME AND ITS TREND IS MORE ESTABLISHED AND I THINK LIKELY TO MOVE HIGHER WITH LESS CHANCE OF A REVERSAL BEFORE IT SETS NEW HIGHS.

GOOD LUCK AND KEEP YOUR STOPS SET PROPERLY.

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turn off your caps lock please.
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