Keep holding longs.

Looks like bullish fomo is right behind the corner and it is just question of time when we are going to see massive move.

Only massive FUD could stop us from big pump!

Best article ever!

If Bitcoin is Rat Poison, the Banks Are the Rats: Pantera Capital CEO

https://www.ccn.com/if-bitcoin-is-rat-poison-the-banks-are-the-rats-pantera-capital-ceo/

I wont say I told you but check the mentioned post and everything will be very clear!

Simply, do not hold something after update!

Told you that selling at 260k is amazing! Also, told you that 280-300k may be reached and it did! But also told you that more than that is almost impossible.

Look at the price right now: https://www.tradingview.com/x/stSqWFAe/

It is not that bad how it was few days ago when we were at 170k ( 40% down from my suggested sell point )

Hope you followed my suggestion!

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Check this Explanation about ETF by Andreas M. Antonopoulos
https://www.youtube.com/watch?v=KSv0J4bfBCc

Good mornig!

Currently we are in ranging market and so far both directions are possible! Big uncertainity in the market and maybe the best proof of this uncertainty is last 6 days close!

Until we get clear closes, clear trends, I would suggest to be safe and do not risk more than you can afford to lose! Do not even think to trade without stop losses because price can go up to 7200 or down to 5500 so not using stop losses can burn your margin account easily!

This was from trader point of you!

Most of you cant seperate trading from investing!

If you are an investor, investing now in BTC or especially in altcoins cant be better! Yeah, Bitcoin can be 5k, there is possibility for 4k but buying BTC at 6k will be dream entry in few months and even bigger dream entry in few years!

Just when you are investing, you have to know how much can you invest! Invest as long as your loss/profit is not causing big emotional spikes! If you are making $50k per year in your job, then investing 10% in BTC should be amount that shouldn't cause any major stress. 5k in BTC can be easily 50k in year or two!

That's why I beg you to seperate trading from investment! In trading we are looking for current situation! In investing you are looking for promissing technology! If Blockchain is not promissing, then I do not know what is!

Once I find entry with reasonable risk reward rate, with clear signs, I am going to share with you!

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Our analysis from paid channel! The drop was obvious! Now, once it did happen, we are looking for new entry!

In general, we may see one more try to of breaking resistance zone around 6600 but chances are lower day by day! More and more we are becoming bearish again becuaw all these bullish news about potential short squeeze, too much long orders... are becoming less and less influential to the market!

The fact about long/short rate is a little bit different then it seemed to be at the first!

Firstly, it is rate on Bitfinex, the exchange that is few times smaller than Bitmex! The long short rate on Bitmex is quite different! It is much more neutral then bitfinex!

Bitfinex offers its members up to 3.33x leverage! It means that maybe the majority of these shorts are like bags for upcoming dump! WIth 3.3x max leverage your liquidation price will be way higher than current price so these short traders are very confortable with these shorts! So, in my opinion, short squeeze may happen only if we reach 7k+ when these shorts may doubt their decision! Everything below that price will be very confortable for them! You have to know that the biggest volume was above 8k so maybe the majority of these shorts come from 7.5-8.5k area! So, they do not even think about short-term price action and they are waiting for the bottom! What is going to be bottom no one knows but this was just other side of the story! Bitfinex is not so important these days! The king is Bitmex.

So I do not care what others say! I am waiting for confirmation and then I am going to take an entry! At the moment, this was drop of $150 and it was not something huge but it showed us the lack of buy power!

Looking for next entry! Stay tuned!

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In my opinion it is just matter of time when we are going to drop!

https://www.tradingview.com/x/fz2aaXmd/

All these wicks that are point upward, EMAs That are comeing down will be very hard resistance for BTC!

Midbb D1 is coming down too! This green area was enormous resistance last time and I do not think this time it will be broken!

We have bullish momentum but it finished just by spike to 6600 and nothing else.

You have to know that local or any tops need much more to form then bottoms!

Update: https://www.tradingview.com/x/xeUcXdZA/

BTC slowed down in last 12 hours and we are now ranging between 6350 and 6400 so it doesnt offer us a lot of chances for catching big moves but it offer us enough time to check the situation and prepare for that "big move"

BTC chart: https://www.tradingview.com/x/Rsp9Z9TV

This is my trading idea!

Entry around 6370, stop loss above 6405-6410 and first target around 6280-6250!

There are a lot of reason why I am bearish on BTC at the moment! I was combining different strategies, time frames and all I see is potential dump in the price of BTC.

This trading set up offers me perfect tight stop loss so let's enter and wait to see where we are going!

Good luck!

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Market Update

It is August 22nd, 2018! BTC dominance is at 53.1%. Total market cap is currently at $216.9 billion! The volume of last 24h was $12.1 billion!

We all saw what happened last night after Bitmex came back! If you do not know the reason for that massive pump, here you are short explaination!

Bitmex server went down because of update and they suspended trading! As we know, Bitmex is currently number 1 exchange! Others exchanges can't manipulate the price if Bitmex whales are not cooperating! While they were unable to short Bitcoin price, whales on other exchanges pumped the price because the majority of other exchanges are not allowing shorting ( Binance for example ) and they use this opportunity to pump the price.

While Bitmex were down, you were not able to trade but you could place orders! While price on Bitmex still around 6460, price on other exchanges were much higher! That's the reason why a lot of long market orders were placed and because they thought it is easy money ( catching this price difference ). But, it looks like a lot of members tried to catch this price difference and we saw massive pump!

I hope this explaination was easy to understand! I just want you to know that it was 100% auto trading! The pump was made by market orders. Market orders are automatically buying once price reach your price. But execution price could be 1% or 1000% from your price. There is no news that caused this pump! Market condition is still the same!

This pump filled a lot of short stop losses! Also, this pump opened a lot of long positions! We are very close to to the market with double pressure! What does double pressure mean? It means that both, bulls and bears are pointing in the same direction! Why?

A lot of long opened above 7000 will cause big fear for the holders of these positions! They are looking for exit and if price start dumping they wont wait too much and they will jump out or their liquidation price will be reached! As we have now less short positions then we had one day ago, we have now a lot of potenital shorters!

So, this is why it is called double pressure!
That's market analysis!

The technical analysis is sowing us that we were rejected by top of daily bollinger band and now we have very big wick but at the moment the body of that candle is not that bad! But, it is still not even half of the day behind us, so if we see price drops below 6550 or 6500 and close there, almost 99% we are going to drop! For that we need only $100 drop, it is something that is not impossible!

The fundamental analysis of market is even more important at the moment! We are expecting SEC announcement of ProShares ETF proposal! Our opinion is that it wont be accepted because of their condition and the way ProShares are planing to open ETF!

A lot of longs opened above 7000, a lot of potential new shorters, TA that is showing big wick at the moment, FA that is mostly going to be negative! I am sorry, but I can't be bullish on BTC in next few days!

The only reason why I will become bullish is positive news from. SEC about ProShares ETF proposal! Without positiove news, we are going down almost for sure until next potential positive news!

BTC Chart: https://www.tradingview.com/x/m0iXltui

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Best regards, CS Team!

Forced Short Squeeze

Exactly what I wrote few hours ago! Bulls used their money on Binance, Bitfinex, Bitstamp to pump price up! They probably lost up to 10% because of that! But, they made at least 100% on Bitmex and overall profit for them is huge considering that they are using millions to trade!

Simply, they opened longs on Bitmex, waited for Bitmex to get down and they started with pump on other exchanges! They caused difference in price and it caused others to think they they can easily catch $50-100 move. They put orders and waited for Bitmex to come back! Then we saw auto trading, that was extremelly volatile in altcoin market! Some alts went up to 400-500% on Bitmex but they dropped down just few minutes later!

Now, there is not short positions on alts for sure because move was bigger than 100% so all positions were liquidated! What is even worst is that there are a lot of longs opened and if the profit wasn't booked instant, it is now huge loss! So, I was talking about double pressure on Bitcoin, but double pressure on alts is huge! I wouldnt be surprised to see alts in double digit loss very soon! Simply, there is huge amount of potential shorters and huge amount of longs that are in loss! After short squeeze, we could easily see long squeeze but this time it can be even worse!

https://cointelegraph.com/news/crypto-markets-see-green-amid-talk-of-forced-short-squeeze-on-bitmex

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Here you are the outcome: https://www.tradingview.com/x/bQhT0Qmr

I just hope you were short 🙏

If you are short, this is the most bearish candle you can dream off! If we close like around this price with this candle, low bollinger band is going to be tested in our opinion!

https://www.tradingview.com/x/76cBSWl6/

We are still waiting for ETF decision! It should be very soon! This drop is maybe sign that decision is negative and whales are dumping and opening shorts before official statement! You have to know that guys with millions have their sources everywhere and they will always have information before you! You can't compete with them, you can only try to predict their moves!

It wasnt some bullwhale, it was obviously BitMex saving themselves from making their company die

Then BitMex has a coordinated ddos (distributed denial of service attack) which shuts down the site and price dumps trapping longers underwater

And all of this a few hours before the ETF denial will happen. BitMex know just like most ppl know that the ETF will be denied. Shorts already at ATH with an almost guranteed dump after the ETF denial would mean BitMex has to take money from their own insurance fund since majority of positions (shorts) are in profit which i would guess they don’t want. So therefore they removed a big part of shorts from the markets and made them scared + removed longers and made them scared so that people would be scared of trading the ETF news.

https://www.ccn.com/bitmex-downtime-crypto-pump-manipulation-in-the-bitcoin-market/

I just hope you were following our advice. Currently it is $400 down. You can book some profit and hold stop loss around 6500!

Market Update

It is August 23rd, 2018! BTC dominance is currently at 53.3% (+ 0.2%). Total market cap is currently at $208.6 billion (- $8.3 billion). The volume of last 24h was $11.4 billion (- $0.7 billion)!

The U.S. Securities and Exchange Commission (SEC) has rejected a total of nine applications to list and trade various Bitcoin (BTC) exchange-traded funds (ETFs) from three different applicants, according to a three separate orders published by the SEC yesterday, August 22.

The SEC has now rejected a further seven proposed ETFs alongside the ProShares pair –– these being five further proposed ETFs from Direxion , also for listing on NYSE Arca –– and two proposals from GraniteShares , for listing on CBOE.

Someone will say that this is negative for Bitcoin but maybe there is another side of story! SEC rejected all these application in one single day! It was expected to see rejection for ProShares but decision for other 2 was not expected to come together with ProShares! Those who wanted to short, they shorted! That's why we didnt see drop that was expected! One more reason why we suggested to short the rumor and close the news!

What is potential outcome of this rejection! Are we going up or down?

Well, we are not so bearish and here you are the reason! We got rejected, but price didnt drop! The confirmation of strategy buy the rumor sell the news! Something like hardfork or airdrop news! What does happen after the news? REVERSAL!

In our opinion it is great that Direxion and GraniteShares got rejected together with ProShares because we do not have now potential bad news in upcoming 2-3 weeks at least from SEC about ETF.

Now, we are all waiting for September 30th and SEC decision about VanEck and crypto startup SolidX . The is big probability that VanEck money management firm will receive the first nod of approval from the SEC to host a Bitcoin ETF. VanEck, along with crypto startup SolidX, would offer their ETF product with physically backed Bitcoin which differentiates their offering form anyone else currently in the application process.

With all this said, we are not bearish as we were on BTC. Our short position that was opened at 6700 is fully closed in area between 6250 and 6400. The profit is secured and now we are waiting for next entry! We will be focused mostly to find long entry because every hour we stay at this price level will be positive sign for potential uptrend! The reason is simple! ETF decision was published, price didnt drop! Number of shorts is at all time high so in this market condition we wont short BTC! If we get some major negative news, we will look for short entries otherwise our focus at the moment is to look for long entries!

https://cointelegraph.com/news/sec-rejects-9-bitcoin-etf-applications-from-proshares-direxion-and-graniteshares

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Market Update

It is August 24th, 2018! BTC dominance is currently at 53.3% (+0.0%). Total market cap is currently at $212.2 billion (+ $3.6 billion). The volume of last 24h was $10.3 billion ( -1.1% billion).

After 2 extra volatile days, days full of pumps and dumps, we are slowing down! The total market cap is growing but the trading volume is dropping so the interest is going down! It was expected because the market is still uncertain and most of traders want to stay safe and wait for trending market!

The market sentiment is neutral! We are getting positive and negative news together but nothing major so far! We got post from Cointelegraph ( Link: https://cointelegraph.com/news/cnbcs-analyst-brian-kelly-says-bitcoin-etf-approval-likely-by-february-2019 ) that says that ETF approval likely by February 2019. In my opinon it is just an opinon of an analyst! It may be true but it might not! My opinion is that is is likely to be true because if we see ETF in September, price will grow up to $10k and in my opinion it wont be healthy uptrend because of not touching magic level of 4-5k that was called by every analyst!

An ETF is a type of mutual investment fund that divides ownership of a commodity, derivative, index, or basket of assets, into shares. The fund tracks the value of the underlying asset(s) and is traded on exchanges, with shareholders ennoscriptd to any positive returns.

Today we tried to chart XBTUSD on trading view but we saw this: https://www.tradingview.com/x/beYGkfWu/

What is the reason behind this? Pump? Manipulation? Whales?

Well, who knows! Here is the official statement from Bitmex:

" The $7000 and $8000 price wicks on XBTUSD are erroneous, caused by an order that printed on the feed at its limit price and not its execution price. Trading is still normal and will continue, and the market reporting bug is being fixed. Those wicks will be removed from the chart. No Bitcoin was lost and the trading engine team is confident this will not compromise the integrity of the system. "

We are not suggesting trading at the moment. If you check this chart: https://www.tradingview.com/x/EHCa0sBx , the reason will be very clear! The market is in ranging phase and until we see some major breakout or breakdown, I am not suggesting taking any action! If you miss first move, it is not a problem, there will be a lot of reentry chances!

Few days ago I was on meeting with a guy that is making miracles in trading! He is 90% focused on forex for years but he is checking crypto too. When you enter his trading room it is like science fiction! Charts are everywhere, 10+ monitors and whole trading set up worth $450k+.

I just wanted to get an opinion from him about BTC price and his opinion is very positive! He does think that price has to reach 4-5k area but after that we will see $25k area very soon after 2 major news! Just sharing opinon from people that achieved big things in trading so their opinion has some value for sure! Time will show what is actually going to happen!

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" The anonymous investor, who received more than 314,000 ETH from the network’s Genesis block as a result of their investments in the Ethereum initial coin offering (ICO), has this week funneled approximately 20,000 ETH to Bitfinex, worth approximately $5.5 million at the time of writing. "


https://www.ccn.com/an-ethereum-ico-investor-is-moving-millions-in-eth-to-bitfinex/