ridethepig

ridethepig | BTC Market Commentary 2019.04.12

Long
BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
With a headline that Circle are looking at sanctioning customers with Poloniex accounts BTC is sent sharply higher above $7,500. As with most cryptos recently, the apathetically weak bulls are shaken off the headline as it quickly settles backdown before continuation from large hands.

Shabby geopolitics and protectionism will continue to be met with a lacklustre reaction and flows into BTC and other cryptos will continue. The West smells of apathy and fatigue, democracy is struggling to get momentum and clients I speak to are ready to react in the short-term.

An update to the technicals here with the Bakkt floor in play:


Here tracking for the catalyst into year end, especially as BTC has failed to break down to any of the trade war headlines in recent times. I will continue to trade the buy side for now.

Thanks for keeping the support coming with likes and comments.
Comment: A good time to update the chart after a breakout...

Comments

Do you expect a retest of a breakout at around 8500?
What do you think of my chart? 10k is super important.
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Every deep create good buying opportunity :)
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Maybe who knows, time will tell! but we are still moving under dead cross and descending channel, also we are sitting on the key level.
Definitely december will be important month! like it was in the past and tell us wich way we will go.
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Pray for the margin players. You have to do this lose your ass again and again to understand the patience you need. And use stoplosses! :) chop chop!
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Dude, At least mention that you've been wrong before. People might believe you.
If you read the tape and not just do guess-work this looks like it's going down.
Most probably we have to go down to 5500 even tho every 14 year old sits at home wishing that bitcoin is going to the moon.
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ridethepig speedracer1234
Thanks for sharing @speedracer1234
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