Bitcoin Busted..

17 Tem 2019

Similar candlesticks from 2017/2018 top. Should BTC close the month at or near $8500 then its confirmed that a new downtrend is in effect. The issue I had with this entire run was that the ALTs never really followed through. Using LTC as an example which is very much the same as BTC but with 4x more supply, it could only manage a run to $140/150 which proves that BTC is just being ran up by whales. Now the rundown begins in earnest. Other ALTs such as XRP and privacy coins (XMR/ZEC) really didn't do much either.

BTC run may have also been started by rumors of Facebook's Libra as BTC price peaked right around the time that the white paper was published. Now with gov't worldwide calling for Libra to be banned is likely is not going to be good for the entire crypto space in general. Top off the latest hole discovered in ETH and you got yourselves a catalyst for another crypto crash..

15 Eki 2019

İşlem aktif

Still looking quite bearish.. BTCUSD could find itself headed down towards the current cost of production which is in the $6350 range.

23 Kas 2019

İşlem aktif

Still going down.. Just broke below the last swing low of $7275.

18 Oca 2020

İşlem kapandı: hedefe ulaştı

BTC appears to have made a bottom based on its cost of production ($6250-6500). Closing short and taking trading longs when appropriate..