Xzhi

Bitcoin (XBT) Bitcoin headed to 8000.

Short
BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Bitcoin should be headed to 8000. This is extremely likely. Unless support starts forming right now it should get there pretty soon.

Since there isn't much support building up at the lows, it looks like the high 7000s price will not be the bottom for Bitcoin .

Probably get out of your long positions. Looks like consolidation (waiting for positions) before massive dump which should go like the previous one.

The last dump was actually made extreme by some dumb whale(s) who were attempting to keep the price up. Then they got super dumped on and had to liquidate their entire position. (Probably not true but best guess after looking at data which shows someone trying to buy wicks up.)

Transfer of wealth.
Trade closed: stop reached: Wow. Nobody could have predicted that.
Comment: Hardly any warning, no sign to suggest accumulation. I guess just continuation of move up from low.

Comments

Thanks Xzhi. My thoughts exactly.
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