I think we're going to see a nice spike up within the next few days.
Ascending Triangle on 4H. Bitmex Open Interest is at $1.02 bil.
Bakkt will be launching on Sept 23.
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Gold has broken out from its long term consolidation with a rounding bottom.
Expecting minor retracement back to $1450 levels which coincides with the short term support and 1st fib level retracement for bulls to recharge before pushing new yearly highs again.
4H time frame shows exhaustion with a descending triangle forming.
Buy the dip.
Okcoin's quarterly futures has been quite bearish and the premium hasn't recovered after each dump despite the spot price recovering and rising.
It's premium is actually now lower than that when the new quarterlies was opened.
This is something worth noticing despite numerous good news which includes:
1. Segwit (which might never get activated due to BU...
From the charts, we can see that there's no strong correlation between a new quarterly futures with the btc spot price.
The term "Whales won't let you have cheap prices", is only true if the trend is up.
Whales can also short.
What matters most is the price trend and price action.
New quarterly futures contract doesn't dictate that it's going up or down.
China lagging behind USD exchanges. Bad.
From historical data, China always lead during a pump.
There were 2 occurrences(that i could find) when China is lagging with this magnitude during sideways/pump.
BOTH WHICH ENDED UP DUMPING WITH FULL RETRACE.
However, not all hope is lost just yet.
Charts + Open Interest looks great.
China might just need...