Another flash crash that occurred on the Coinbase Pro and Deribit exchanges pinned BTC prices slightly down.
* On October 31, 2019, BTC speculators witnessed a flash crash on Deribit, a and options exchange for BTC . prices slumped from $9,150 to $7,720 and then bounced back to above $9,000 within a couple of minutes.
* As a result, Deribit will reimburse over $1.3 million in losses from the BTC index calculation data issue witnessed at 21:00:00 UTC on October 31, 2019.
* Nevertheless, there is another, major factor that should predetermine BTC price dynamic in the nearest months. Namely, Bitcoin may experience more price boost as May'2020 halving is getting closer.
* In the short-term, the price is wedged within the minor contracting triangle on H1-H4. The breakdown of the triangle suggests a drop to $8,500 - $8,600 area.
* A invalidation could be in evidence if the price rises above $9,300. Overall, opening Shorts appears very tricky in the current situation.
* & , both rest in a complete neutrality.
Pending trade signal
Buy @ $8,500 - $9,000.
Nearest target: $10,500.
Mid-term Target: $12,000.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
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