Comparing Bitfinex and Bitmex. Whose telling the right story?
As we all know by now, there are very close to no points or reasons we should look at Bitfinex's chart.
The chart is broken!
Remember Bitfinex going nuts about two weeks ago?
It scared a lot of us, because not only it was nuts but also that now we have to decide which chart to look at. Because they all tell the different stories now!
Anyways, what can we do about the chart eh?
Based on trend line analysis on Bitfinex's chart, some might say it should be about close to the right time to get back in. (refer to the lighter green trend line)
We can observe a valid trend line indicated in lighter green which might give us a reason to believe.
However, we shouldn't forget that Bitfinex's chart is a complete mess right now. We should be VERRRRRY cautious about whether or not to believe in the lighter green trend line. Because other charts don't agree with what Bitfinex is telling us.
Bitmex for example, darker green trend line is the valid trend line.
According to Bitmex's chart the price now is definitely not the bottom.
At some point prices should (and will) sync in between exchanges so buyers like us have a better and more consistent standard (which is chart!).
If we're talking syncing, the darker trend line on both charts very much shows similar picture.
In conclusion, if you're going in for long, be very cautious (ha, everyone should be anyways ;))
What if you're not?
Stay out and watch it sync or sink!
Boo! world is falling apart these days.
Bitcoin (including some major coins) might have a chance to shine again soon. Big boys need something with a right cause.
p.s. the RSI shows that it will soon move like a bull or a bear not a larva.
The chart is broken!
Remember Bitfinex going nuts about two weeks ago?
It scared a lot of us, because not only it was nuts but also that now we have to decide which chart to look at. Because they all tell the different stories now!
Anyways, what can we do about the chart eh?
Based on trend line analysis on Bitfinex's chart, some might say it should be about close to the right time to get back in. (refer to the lighter green trend line)
We can observe a valid trend line indicated in lighter green which might give us a reason to believe.
However, we shouldn't forget that Bitfinex's chart is a complete mess right now. We should be VERRRRRY cautious about whether or not to believe in the lighter green trend line. Because other charts don't agree with what Bitfinex is telling us.
Bitmex for example, darker green trend line is the valid trend line.
According to Bitmex's chart the price now is definitely not the bottom.
At some point prices should (and will) sync in between exchanges so buyers like us have a better and more consistent standard (which is chart!).
If we're talking syncing, the darker trend line on both charts very much shows similar picture.
In conclusion, if you're going in for long, be very cautious (ha, everyone should be anyways ;))
What if you're not?
Stay out and watch it sync or sink!
Boo! world is falling apart these days.
Bitcoin (including some major coins) might have a chance to shine again soon. Big boys need something with a right cause.
p.s. the RSI shows that it will soon move like a bull or a bear not a larva.
