Or else this enormous cup requires a proportionally large handle, in which case this clambering up and dripping down could continue for months?
i always thought it could be until may. now i think august or september.
Do you mean august/september 2018, or august/september 2019?
2017
I studied the times between the previous two highs, and speculate we get another spectacular in about 5.5 to 7.5 months.
Recent price action was perfectly aligned with the Fibo Time Zone. From my point of view November 2017 is the next possible climax
http://zentrade.online/bitcoin-price-action-update-20170113/If Chinese were actually SHORT
BTC perhaps there is a "short squeeze" occurring!?
The "short squeeze" and its outcome is what we are witnessing now
http://zentrade.online/bitcoinusd-price-action-analysis-bitmex-perpetual-swap-xbtusd-update-20170117/From what I currently can see at the market, sell orders of big players are set at 950 and above. The crowd with its market orders is not able to push due to lack of liquidity. Sideways scenario is most realistic for the next week until 950 level reached
http://zentrade.online/bitcoinusd-price-action-analysis-bitmex-perpetual-swap-xbtusd-update-20170120/Why don't you or zentrade setup an rss or twitter feed to alert us of BTC TA updates? I don't want the whole zentrade rss, just the BTC part.
is this would be ok?
http://zentrade.online/category/markets/crypto/feed/USD smart money vs CNY FOMO-buyers, watch the bulls slaughtered
http://zentrade.online/usd-vs-cny-bitcoin-battle/ "the absence of CNY currency volatility may dampen the price of Bitcoin" -- Arthur Hayes, BitMEX Crypto Trader Digest @BitMEXdotcom
"A one-off [CNY] devaluation during New Year gives China breathing room" -- Arthur Hayes, BitMEX Crypto Trader Digest @BitMEXdotcom - THIS may send Bitcoin price to the MOON!
"the absence of CNY currency volatility may dampen the price of Bitcoin" -- Arthur Hayes, BitMEX Crypto Trader Digest @BitMEXdotcom
why?
with less chinese volatility people that complain about Bitcoin being manipulated by the chinese may be less afraid and enter the market
or just create another excuse about why bitcoin is a bad investment
As far as I can understand position of Arthur Hayes it is because of the current pure speculative nature of Bitcoin. Here is an excerpt:
"All of a sudden, the PBOC turned on the lights at the club. In response to pressure from regulators, Chinese exchanges ceased offering margin trading on January 11th. The very next day, XBTH17 entered backwardation. Existing loans were allowed to expire, but no new loans could be taken out.
Margin loans had 2 to 30 day terms. As loans expired, credit whales need to unwind their trades. That meant selling futures and buying spot with released CNY. This helped move the futures’ basis into backwardation.
The Fear Uncertainty and Doubt (FUD) surrounding what the PBOC would or wouldn’t do prompted speculators to short Bitcoin via futures. There was no more margin trading therefore futures were the only bearish instrument available. Even today, the PBOC has released no statement as to what policy actions will be undertaken as a result of their “investigations”.
In short:
Margin Book Unwind + FUD = Futures Backwardation"
