Market is consolidating at 400 USD, any attempt of a bounce was sold off pretty fast in the last three days. I was very short term bullish, intermediate term bearish. Will be shorting at these levels. In addition, the chart pattern looks like a flag/penant formation at the lows.
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Going long at these levels, not the best entry. To continue on from yesterday's bitcoin market update, I think the risk reward ratio here is very good. We've retested the 460 resistance multiple times but we are not breaking it. In addition, if we have more sell-off, alt-coins should be collapsing because they are laggers. However, Litecoin held up so well. I had...
Market has been very choppy for the last few days, we had a lot bitcoin related news such as Paypal and Apple pay. Looking at the bitcoin charts on the hourly, we can see that bitcoin is inside or now outside of the channel.
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On Bitstamp, large players, aka whales, are clearly adjusting positions. You can see large market orders of 1000 BTC...
Hope everyone had a good weekend. Bitcoin prices on the other hand have completely retraced the big green bar on the hourly from two days ago. This is bearish because market rejected 3000CNY/490USD level; market didn't even bounce that much. Now, all the people who bought btc up to 497 are all wrong.
At this juncture, we are going to retest 2900CNY/467USD. Will...
