Current market trend is down. MAs are all down sloping. Has failed to break long term trend line at $11,700 twice. Has failed head and shoulders breakdown. Buying volume is very low, selling volume today on Bitfinex is approaching 50K BTC which is critical level for mass sell offs. General sentiment is overwhelmingly negative. It's going down to around 5K support.
RE: BITCOIN UPDATE: DUMPING, BINANCE ACCOUNTS HACKED, BITMEX DOWN. 9300-9400 SUPPORT?
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BITCOIN UPDATE: DUMPING, BINANCE ACCOUNTS HACKED, BITMEX DOWN. 9300-9400 SUPPORT?
Not hoping, I'm just stating the probabilities of each and every possible situation that could occur in my analysis. Not once did I state that I was wishing for a certain price movement.
Nothing is 100% in TA, your saying that its for sure going down to 5k - which could happen, but you seem extremely confident about it.
Its why I gave four different situations yesterday, if you look at the end of the last update, I said that we could break 9300.
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Binance was hacked? wow didn't know that
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Not everybody, it was just some accounts with API keys. https://cointelegraph.com/news/possible-hack-of-third-party-tools-affects-binance-exchange-users
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I think the question all us TAs need to ask at any moment is, what would it take to reverse the trend. Not in terms of support and resistance but volume which is the key thing that reverses and maintains trends. Right now sentiment is back to September 2017 levels.
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