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RE: Bitcoin (BTC) Morning Update: Sequence of Patterns is Uncanny!
Do you think it’s still possible for the price to breach the resistance to go to $14k first and then down to lower low? @haejin
Do you think it’s still possible for the price to breach the resistance to go to $14k first and then down to lower low? @haejin
Highly doubtful. I know Haejin charts from a purely technical perspective, but one must take into consideration the futures contracts coming due, and the most desirable timing for the price of BTC to be at its lowest. BTC/USDT on Bittrex is being held up on purpose and gradually being let down--a controlled, directed, slide downward.
I pose 2 scenarios: whales drive the btc price under 9k, but buyer's hunger for cheap btc keeps prices in that $8600-9000 range, OR the buyrs greed is used against them, and if the price can be driven below ~7800, a panic sell may occur, making prices tumble to (possible) $7k region. I see the first scenario as being more likely though.
Me being the consummate conspiracy theorist in my own TA on this site I tend to agree with you and have considered the futures impact as well as the economic summit both of which are coming at nearly the same time.. a post about the latter can be found here: https://steemit.com/cryptocurrency/@ervinneb/if-you-own-any-crypto-you-should-read-this
This gets my vote, Gregory Mannarino, "The Robin Hood Of Wall Street.", reckons all derivatives are rigged
It's such an interesting study right now with the contract ending in a few hours we get to see how connected walk street and the whales really are.
Where can I get information on the bitcoin futures? I haven't been able to find shit on them.
I thought today was the 26th lol. The contract ends at 1/26/18 at 3:45pm East Coast time. I had to search for that info it was hard to find.
I read 4:00pm London time which would be 10:00am EST. Where did you find the info? Was it somewhere on www.cmegroup.com?
I searched through CME and couldn't really find anything. Past the contracts expiring, what's the significance?
If the price of BTC rises, it should be right after the contracts expire. i.e either after 10:00am EST or 4:00pm EST
It's a US future contract so why would it be London Time? Plus wouldn't that be 9 pm est after the market is closed? Sorry I don't have a link but I did find it.
Closing with the market makes sense
You're right. I guess the info I read was incorrect. London time is currently 5 hours ahead of New York time. Thanks for the update. I the direction BTC takes is the one you're hoping for. Personally I hope it goes up to 14-15k, then down to 8k.
It’s more about breaching 11600 And hold for sometime or it will come down to 9K-ish. Looks like it didn’t hold too well at 11.6K. So it’s bound to come down in the next 2-3 days
I guess we will see what happens today if it goes to $11.6k and holds or not.
Since cryptos like taking a long time to correct, it seems that it's too soon for a final dip to 8-9k. We'll see tomorrow.
i had the same view, agree with your charts
Good call man, looks like your on the money.