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
RE: Bitcoin (BTC) Morning Update: Sequence of Patterns is Uncanny!
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Bitcoin (BTC) Morning Update: Sequence of Patterns is Uncanny!
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.
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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
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This gets my vote, Gregory Mannarino, "The Robin Hood Of Wall Street.", reckons all derivatives are rigged
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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.
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Where can I get information on the bitcoin futures? I haven't been able to find shit on them.
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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.
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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?
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I searched through CME and couldn't really find anything. Past the contracts expiring, what's the significance?
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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
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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.
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Closing with the market makes sense
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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.
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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
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I guess we will see what happens today if it goes to $11.6k and holds or not.
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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.
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i had the same view, agree with your charts
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Good call man, looks like your on the money.
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