BITCOIN - Market Cycle - Part 11
Updated
Hello Everyone,
Currently, BTC is hanging just above the $7,100 marker as the Americans markets get advanced. Trading volume has been steadily decreasing across major trading pairs, including BTC/USD and ETH/BTC, signaling incoming decision time.
After BTC makes a significant movement (regardless of whether the move was up/down), it typically needs to hold momentum. Without doing so, history has shown us is that *down* is the way we go.
At current, BTC and the rest of the crypto market are fighting against a souring Chinese narrative being spun and promulgated by media outlets worldwide. Nevermind that China is bullish on blockchain, what the market is latching onto ever more tightly is the message that the world's most populous country is anti-crypto.
That wouldn't matter much if the rest of the world were up to the task of carrying the market, but so far, no one has stepped up to the plate.
So, what happens next?
$3 Billion Exit Scam Suppressing the Market?
Until CoinTelegraph broke the news about PlusToken, a $3 billion exit scam that mostly took place in Asia, few Westerners knew of the story.
To make a long story short, PlusToken, a purported crypto investment platform and wallet, scammed about $3 billion worth of BTC, ETH, and EOS from predominantly Chinese and South Korean investors.
Few inroads have been made regarding the whereabouts of PlusToken's founders after they disappeared in June of this year. A handful of blockchain analysis firms of vaguely concluded that vast sums of crypto from wallets associated with PlusToken may be suppressing market prices with shuffled digital assets.
Crypto Twitter Remains Largely Bullish, but Some Disagree, believes that the market is due for at least another leg down. The case for a drop to the low $6,000s before finding a bottom sometime in January 2020.
A large drop to the 6K region will likely be preceded by a smaller step down to 7K flat, which is ominously looming just below the market's current standing.
Others, including famed trader Peter Brandt, see strength in BTC's current position, with Bloomberg's crypto outfit even speculating that short term prices may head above 8K.
As always, time will tell.
GOOD LUCK!
We go together
Together we are stronger
Share and like
I am not Bearish long term. I am a Bull of Bulls.
Thanks
God bless you!
Nothing is hard as long as the determination is there.
===============================================================================
BlackMEX - TELEGRAM
We are a BITMEX specialized channel.
Our philosophy focuses on capital preservation and good risk/return operations.
We'll share our analysis, calls, and share studies that can help you be a better trader.
Enjoy!
Telegram > t.me/blackMEXcrypto
===============================================================================
Twitter > twitter.com/f3rG0D
===============================================================================
Bitcoin stock to flow
===============================================================================
CAUTION!
DISCLAIMER
Trading is risky.
Here s a small explanation about why Im giving insight into my trades. Crypto is all about trust and transparency and that is what ID like to bring. Dont expect me to tell you how much crypto I actually own because thats none of your business. But I Will tell you how big my position will be in regard to my trading portfolio.
Secondly and actually the main reason im doiing this, is to proof to all the HALTERS out there that you can earn money with trading crypto. Most people are skeptical about trading because they heard horror stories about people who lost all their money. Follow my journey and let me proof therm wrong.
At the end of the day, the most important thing is how good are you at risk control.
Booking some losses during trading is perfectly normal, so im not afraid to show those losses. Most traders dont give any insight in what they because they perfectly know they suck and dont have a clue what they are doing in regard to risk management.
Risk comes from not knowing what you're doing.
Just like every trader, Ive seen ups and downs in my journey. I started trading stocks. And you can guess what that meant for my portfolio. Yes thats right, it was almost completely wiped out.
But I pressed on, learned a lot about technical analysis and here we are. I have experience in trading stocks, options, and commodities .
So you can assume that I know how to deal with risks.
===============================================================================
BTC 
BCH 
BNB 
XLM 
EOS 
ETH 
ADA 
LTC 
TRX 
XRP IIOTA 
LINK XXTZ 
BTT 
XMR NNEO BTT MMATIC XMR 
MRK 
XEM 
ONT 
DASH 
BAT 
ZRX 
LSK 
NANO 
REP
#altcoins #bitcointrading #cryptocurrency #cryptotrading #CRYPTO #BITCOIN #BTCUSD #BTC #BuyTheFear #BuyTheDip
btc @RedditBTC
Currently, BTC is hanging just above the $7,100 marker as the Americans markets get advanced. Trading volume has been steadily decreasing across major trading pairs, including BTC/USD and ETH/BTC, signaling incoming decision time.
After BTC makes a significant movement (regardless of whether the move was up/down), it typically needs to hold momentum. Without doing so, history has shown us is that *down* is the way we go.
At current, BTC and the rest of the crypto market are fighting against a souring Chinese narrative being spun and promulgated by media outlets worldwide. Nevermind that China is bullish on blockchain, what the market is latching onto ever more tightly is the message that the world's most populous country is anti-crypto.
That wouldn't matter much if the rest of the world were up to the task of carrying the market, but so far, no one has stepped up to the plate.
So, what happens next?
$3 Billion Exit Scam Suppressing the Market?
Until CoinTelegraph broke the news about PlusToken, a $3 billion exit scam that mostly took place in Asia, few Westerners knew of the story.
To make a long story short, PlusToken, a purported crypto investment platform and wallet, scammed about $3 billion worth of BTC, ETH, and EOS from predominantly Chinese and South Korean investors.
Few inroads have been made regarding the whereabouts of PlusToken's founders after they disappeared in June of this year. A handful of blockchain analysis firms of vaguely concluded that vast sums of crypto from wallets associated with PlusToken may be suppressing market prices with shuffled digital assets.
Crypto Twitter Remains Largely Bullish, but Some Disagree, believes that the market is due for at least another leg down. The case for a drop to the low $6,000s before finding a bottom sometime in January 2020.
A large drop to the 6K region will likely be preceded by a smaller step down to 7K flat, which is ominously looming just below the market's current standing.
Others, including famed trader Peter Brandt, see strength in BTC's current position, with Bloomberg's crypto outfit even speculating that short term prices may head above 8K.
As always, time will tell.
GOOD LUCK!
We go together
Together we are stronger
Share and like
I am not Bearish long term. I am a Bull of Bulls.
Thanks
God bless you!
Nothing is hard as long as the determination is there.
===============================================================================
BlackMEX - TELEGRAM
We are a BITMEX specialized channel.
Our philosophy focuses on capital preservation and good risk/return operations.
We'll share our analysis, calls, and share studies that can help you be a better trader.
Enjoy!
Telegram > t.me/blackMEXcrypto
===============================================================================
Twitter > twitter.com/f3rG0D
===============================================================================
Bitcoin stock to flow
===============================================================================
CAUTION!
DISCLAIMER
Trading is risky.
Here s a small explanation about why Im giving insight into my trades. Crypto is all about trust and transparency and that is what ID like to bring. Dont expect me to tell you how much crypto I actually own because thats none of your business. But I Will tell you how big my position will be in regard to my trading portfolio.
Secondly and actually the main reason im doiing this, is to proof to all the HALTERS out there that you can earn money with trading crypto. Most people are skeptical about trading because they heard horror stories about people who lost all their money. Follow my journey and let me proof therm wrong.
At the end of the day, the most important thing is how good are you at risk control.
Booking some losses during trading is perfectly normal, so im not afraid to show those losses. Most traders dont give any insight in what they because they perfectly know they suck and dont have a clue what they are doing in regard to risk management.
Risk comes from not knowing what you're doing.
Just like every trader, Ive seen ups and downs in my journey. I started trading stocks. And you can guess what that meant for my portfolio. Yes thats right, it was almost completely wiped out.
But I pressed on, learned a lot about technical analysis and here we are. I have experience in trading stocks, options, and commodities .
So you can assume that I know how to deal with risks.
===============================================================================
BTC BCH BNB XLM EOS ETH ADA LTC TRX XRP IIOTA LINK XXTZ BTT XMR NNEO BTT MMATIC XMR MRK XEM ONT DASH BAT ZRX LSK NANO REP #altcoins #bitcointrading #cryptocurrency #cryptotrading #CRYPTO #BITCOIN #BTCUSD #BTC #BuyTheFear #BuyTheDip
btc @RedditBTC
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