Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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#XBT #Bitmex
Medium-term decline in bitcoin and a breakdown of the psychological mark of $ 9,000. Over the past couple of weeks, we have formed a decent amount of strong support levels in the region of $ 9000-9500. Everyone who trades globally and medium-term holds such good stops in this area, and already these stops can simply provoke an almost vertical collapse by inertia and I see the level of $ 8500-8300 as the main sane stop.
From the point of view of the fundamental. The news about Bakkt was local in nature, and in general about futures and ETFs, I wrote for a long time that their liquidity and meaningfulness for the market is a very big question.
Locally, it is possible to grow a little more to $ 10500-10700, but the overall mood remains negative.
8888 may be the magic number you are looking for as many BTC owners are believers of the number 8 as a lucky number. I expect one more upside rally as BTC pretty much correlates with US30 for which I expect one more rally before a bigger crash. BTC will likely be dragged along although it has been lagging on US30 moves. On top of that I still expect BTC to possibly gain while USD devaluation sets in. Selling pressure on BTC is indeed visibly strong and may overpower USD devaluation pressure and cause BTCUSD to fall early nevertheless. Looking forward to the outcome, it all completely agrees with your findings above.
FreshCrypto
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@ArnaudKleinveld, 8888 or bababa is a Chinese good luck number and we all know there are many Whales in China so yes this is a good proit take zone.
SaintDank
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hows it going man, i was wondering what your thoughts are on xlm, could you do an analysis of that coin looks to be a good spot for an easy 2x-3x after this fake pump i think itll dump but then it will rally in in towards the end of year