BitFinex Vs CoinBase ($325 USD Spread, Risk Increases)
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Looking at Bitcoin (BTCUSD) on CoinBase vs BitFinex, the price difference is becoming bigger, the risk is starting to increase.
Go here for a full detailed analysis and why this is unhealthy for the cryptocurrency market, especially Bitcoin:
We are now looking at $325 USD in price difference and we see BitFinex moving higher and higher but with no volume, which is a terrible signal, bloody Monday coming soon?
Feel free to hit like now... If you want to, and let's continue with this analysis.
Looking at the MACD on both exchanges, the bearish is becoming more pronounced.
While there has been no action on CoinBase, BitStamp, BitMEX, etc., BitFinex continues to grow, do they know something that we don't know? Not likely, this is just the usual Tether (USDT) situation.
All the price action details are explained in my previous analysis, but if BTCUSD does fall, you can expect support to be found first at the $4900 - $5000 range followed by EMA50 if the above level breaks.
As for a break to the upside... I believe it is possible but very unlikely, looking at CoinBase chart. EMA10 is still the challenge to break and the structure of the chart isn't that inviting for an impulse to the upside.
Where do you think Bitcoin is headed next?
Share your thoughts in the comments section below.
Thanks a lot for reading.
Great Sunday.
This is Alan Masters.
Namaste.
Go here for a full detailed analysis and why this is unhealthy for the cryptocurrency market, especially Bitcoin:
We are now looking at $325 USD in price difference and we see BitFinex moving higher and higher but with no volume, which is a terrible signal, bloody Monday coming soon?
Feel free to hit like now... If you want to, and let's continue with this analysis.
Looking at the MACD on both exchanges, the bearish is becoming more pronounced.
While there has been no action on CoinBase, BitStamp, BitMEX, etc., BitFinex continues to grow, do they know something that we don't know? Not likely, this is just the usual Tether (USDT) situation.
All the price action details are explained in my previous analysis, but if BTCUSD does fall, you can expect support to be found first at the $4900 - $5000 range followed by EMA50 if the above level breaks.
As for a break to the upside... I believe it is possible but very unlikely, looking at CoinBase chart. EMA10 is still the challenge to break and the structure of the chart isn't that inviting for an impulse to the upside.
Where do you think Bitcoin is headed next?
Share your thoughts in the comments section below.
Thanks a lot for reading.
Great Sunday.
This is Alan Masters.
Namaste.
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What is going on, what is this feeling? … It is the first day at work.
We are not really afraid or scared, this is the signal that action is on its way.
The shivering and the confusion is our Soul, our body is trembling because today starts the growth.
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