​Hype over?

Data from over 85,000 unique publication headlines collected since October 2017 shows that mentions of institutional interest in Bitcoin in news headlines have plummeted to a 2019 low after seeing significant growth throughout the summer.

📌True impact on media attention was coming from institutional trading platform Bakkt.

In the history of Bitcoin we never had more than two consecutive red monthly candles while being in a Bull market. Now we got the third red monthly candle which is pretty nasty.

Alts/Bitcoin Market Cap #update

We are about to close the weekly above the 9EMA for the first since April. Seems like alts will continue growing in BTC pair until we meet 50EMA (our second target)

But keep in mind the Big Picture. This is just a bounce

📰 BREAKING: 1.4 trillion dollar class action lawsuit opened against Bitfinex and Tether.

A new lawsuit claims crypto exchange Bitfinex and its sister company Tether manipulated the crypto market, harming traders and benefiting themselves.

​One year ago Tether FUD resulted in significant divergence of Tether rate and U.S. dollar. BTC price spiked by 23% against USDT while in fiat pair it went up only 10%. This time we have a group lawsuit against Tether and Bitfinex.

Tether has $4 billion market cap. If that starts fleeing to bitcoin & other #crypto you may see a crypto rally similar to what we had exactly one year ago.

⚠️ Temporary Tether collapses have never evolved into something serious, but it doesn't mean that one day Tether will not be shut down. This stable (!) coin has too much controversy.

We said it back then and will repeat it again: Tether is a Black Swan event waiting to implode one day. Be cautious!

The price goes exactly like we pointed out with arrows!

🎯 Points number 7,8 and 9 are successfully reached!

​📊 A drastic shift happened to the crypto space in 2017. Since 2017 phase we started to see a lot of volume moving to the exchanges.

So here is the question: How many coins are stored in the wallets of cryptocurrency exchange users?

5% of the coins (~ 1.2 million BTC) are sitting on Bitstamp, Binance, Bitmex, Bitfinex, Bittrex combined. But taking into account the fact that about 4 million coins are gone, would say that almost 7% of all the coins that are alive are sitting on exchanges right now. The list is led by Huobi, Binance and BitMEX.

#BTC

Keep an eye on this resistance cluster:

The price tried to break above the 200-Day MA & 200-Day EMA, but closed yesterday's candle below it.

Break above this cluster and we go significantly higher

#BTC update

So, the price tried to break above the resistance cluster (EMA200 & MA200) we mentioned a couple of days ago, but failed. That rejection was pretty nasty and right now it looks like Evening Star bearish reversal formation on the daily.

#BTC 4h

If we keep this local low (8220) intact, bullish continuation is still on the table

Breaking below 8250 on the closing bases would invalidate any bullish case. Also going below 8220 would confirm Evening Star on the daily and trigger a short trade.

Did you follow our recommendation and short BTC ?

So, once we broke down below that low at 8250, we entered Bear territory. As of right now we dropped by 4%

​18 000 000 BTC mined! It took 10 years and it will take approximately 120 years to mine the rest 3 000 000.

⌛️207 days to halving and with rising hashrate the coin reward decrease from 12.5 to 6.25 coins will occur even earlier

Critical support is eventually broken!

The massive Support Cluster we were talking about got broken today! We are now below the trendline, 50-Week EMA, strong horizontal level and high volume node on VPVR.

We have almost reached the next horizontal level at ~7350. Feels like we are gonna go lower.