As I made a case for FTT and have made a case for COIN and GBTC before, I want to keep sharing some unique charts and cases. Again, my FTT idea was banned (from a little mistake), so I just reposted it and want to continue with more special cases. By special cases, I mean stuff that looks weird, infeasible, or tricky, where sentiment is leaning against my case,...
There is strong resistance at the 300 level, with a channel going from that 300 level down to 218.
In the short term, up to the 4th July, I expect a small price increase to go back up to the 270 level.
In the medium term I see continued downward pressure for the next two weeks, with prices going as low as 218.
Trade at Bitfinex using code dCDa7Rr36g or visit ...
Bitfinex = Tether = USDT (same company)
It was 74% when they had 2.9 billion tethers. It’s probably even less now.
ag.ny.gov
Ask yourself ...
Who is buying bitcoin?
Why was there more interest in Bitcoin in 2017 than in 2019?
Why did the price go up after imaginary tethers were printed?
Why did Bitfinex enable 100x leverage?
Why are they missing $850,000,000?
Why...
LONG TERM ANALYSIS
Falling wedge formation in weekly chart.
TD sequential- 9 candles completed.
Breakout chances higher(If volume spikes up keep an eye on it.)
MACD nearing crossing range.
NOTE - FOR EDUCATIONAL PURPOSE.
Looks like Bitcoin Diamond can go for a very big move in the couple of weeks..
When triangle is trying to break and all the red levels have been tested, this thing can skyrocket, possibly.
I took a small position at the green support line
Here RSI is at a critical level near 47-48 range. If it sustains we can see the starting of wave 3.
IF that level breaks and BTC remains unstable, level 40 on RSI could be seen as a support.
Hope that this level sustains and we can see a pullback.
NOTE - 1.This is not an investment advice, its just for knowledge purpose.
2. Any suggestions or idea...
There is strong resistance at the 2220 level and an upper channel of 2530. I expect prices to bounce between these channels until the 10th July 2017.
The 5th July will determine the direction of any potential breakout, and future trading channel.
I suspect we will see a lower high of 2400, and the price will further decrease from there into the 2200 range.
Sign...
72,339,809 tokens were issued and 35,712,790 are left. Probably quite a few of them have been converted into equity or RRT via Bank to the future.
0.7$ per token seems a lot to me and we are in overbought territory, but things are somehow looking good for BitFinex (which is quite weird). The Bitfinex team is very incompetent and it is a surprise to me that so...
Comparing this sharp wave down Ive found it's of a bigger scale than a similarly sharp wave down in mid June. Some possible targets sit in the 370-380 area. With the volatility of liquidating longs and margin calls on BFX (as seen a few days ago) it cant hurt to have some bids in that zone waiting for another possible spike.
