A further fall from grace?
6 days ago I wrote about how the price of BTC would be falling and how I was going short. https://steemleo.com/steemleo/@treepi/bitcoin-reckoning-incoming.
I'm up over 200% today. Currently watching the price action closely. Right now, I'm anticipating a fall to the $6,500 region with a potential bounce in that region. If we don't encounter any resistance, the next area I'm watching is $6,000.
UpBit and VeChain Foundation Hack
People also seem to be forgetting a recent Chinese ponzi that left 40,000 BTC being dumped on the market. 20,000 BTC has been dumped so far leaving another 20,000 remaining.
I was asked why they would dump now by a couple people. Here's why.
- It's stolen.
- We've been in a longer term bear market with a risk of a huge price drop.
ON TOP OF THAT! There is probably even more than that being dumped. UpBit was hacked for $50 million worth of ETH. The VeChain Foundation was hacked for $6.7 million. Odds are they will be dumping this ASAP due to the bearish outlook.
What's next?
Here's a little chart I made. I threw on some trend lines and resistance floors. It probably won't make sense to you, but I know what I have going on there. Also, note the tight Bollinger Band squeeze. This indicates that we have a large move incoming. Based on the market, I'm assuming that move is down as I've seen no other reason to make me think otherwise.
Moon boys, prepare to get rekt. Let's get this crypto!
Btw, just recently moved to a new BTC derivatives exchange called BaseFEX. The reason I switched is due to volumes on popular platforms like BitMex. I would get rekt by whales on there. The price swings on BitFEX seem to be less drastic due to the lower volume. However, the volume isn't so low that it's hard to trade. A perfect medium.
They also offer USDT settled trades which is their most popular market.
If you'd like to check it out, use my link below to receive 10% off your fees for the lifetime of your account.
https://www.basefex.com/register/PVTsjP
For smaller trades, I like to use CoinEx. Idk why, but I really like it. The volumes are pretty low, so I don't recommend it for large traders. But, for normal people like me and you, it's cool! 40% off your fees for the first month with my link!
https://www.coinex.com/register?refer_code=tkcnm
Also, join my Telegram group! I may be posting my trades on there.
Always trade smart! Never risk more than you can afford to lose! Also, I am only sharing my ideas and experiences. I am not a financial advisor.
Support
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BTC: 13ymKo2NDKnfYQcH13aKv5HaAnCPrAa7Vx
BCH: qrayawp5zgemg9judwjfvkhr7nvfudrrg5g4t0zlrx
DOGE: DAp31VrRfZVJxYkCpx2yk5ckWF312sDLb2
ETH: 0x256E202Dd9c87F5d19000173fa29E6dC3fac4637
XMR: 4B7YCMkMhkpfH1zcZ5fMcsVFBGFT8uhZ2bxRBWAGDq2jVT6REjedbTUCGqp2ihkf1F8DNHY5hkvxNcjrby33JPMJFM6Hq4N
I'm always looking for new projects and collaborations. If you are interested and would like to get in touch with me, please do so via Loki Messenger using my public key: 052825837b9e8932e614b3195afba511dcdcb8de27ca30202840388ec8f14c6328
Or reach me on my Telegram group!
https://t.me/treepi
