Remember how I kept posting about the shifting channel we were getting in BTC represented by this Gold trendline? About this massive purple trend line keeping BTC down? About not having any volatility?
We just got everything in one evening.
1. Broken Trendline. Check. 2. Broken Wedge to the upside. Check. 3. Broken RSI wedge. Check.
USDT scare drove price up. Right now we are getting some disparity on different exchanges. On Bitfinex for example, we have BTC printing around $6,900, but on Gemini and Coinbase we are printing around $6,400. If this dispairty holds, this will be very good and will drive prices higher. Bots (and people) will begun buying cheap BTC from USD on Coinbase and GDAX and selling it higher to profit, or just holding knowing they can sell it higher. Think about a bot making a $500 tick every time they buy and sell almost instantly. Arb bots have been dormant for some time, I bet they get turned on agian. Ultimately, if we see this price disparity continue, we will see prices go higher substantially.
Volatility returning is great news. It will bring in more action, more buyers and attract people that have been on the sidelines.
BTC to 10k, looking a lot better after last night.
You all know where I am long from. Still holding.
-Sherem
Komentarz
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Please like to show your support! thanks
Komentarz
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For the new readers of my posts, I identified this gold shifting trendline and stuck to my guns way before anyone posting on TV. Here are some earlier updates:
As early as LATE AUGUST!!!
Komentarz
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Here's another idea I posted comparing BTC to BTC 2014.
Komentarz
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For those questioning Tether, this happened lsat November before the major bull run, just as an FYI.
Komentarz
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Look at this folks. Tether is doing exactly what it does, reverting back to it's mean and BTC isn't going back down
Komentarz
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And as an FYI, here is what I mean by confirmation - On places like Bitstamp and Coinbase this trend line has been pierced but not broken.
nice, let's see what we get then!
nailed it on both sides recently. ready for whatever!
AlanSantana
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Great call brother. Keep up the great work.
Sherem
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@alanmasters, Thanks Alan, same to you.
marco8484
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Maybe you want to elaborate a little bit about your Arbing Model, knowing that FIAT Withdrawals are not possible at Bitfinex at the moment? Which, btw is the cause for the spread, of course.
Sorry but this is nonsense.
Volatility is great? THIS volatility is largely driven by Tether going down big time. That is certainly not the type of volatility needed to initate a bull run...
Sherem
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@marco8484, I am not arbing right now, I am holding. I am saying arb bots will probably come back after being dormant for so long.
Why not? When prices were higher, they kept going higher because bots and people saw opportunities to continue to make money on the spreads between brokers or because BTC was making head lines. All of that happened.
TheAlphaTrades
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Thank you for your wonderful analysis as always! Appreciate your work
Morning! Here's the Oct 16 analysis. In this I discuss the current PA being a stop before the drop | $5500 active | Bulls not defending strongly | Weekly unchanged:
dragononcrypto
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Still waiting for the USD price to breakout too tbh.
rixyjen86
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Thanks for what you do and presenting this picture, excellent as always. A stack of positive signs but I remain bearish, something not right about this situation. Im out completely at present.
Im not with you about Tether indicating a run: previous dips/crashes don't seem connected to BTC movement.
25 Apr17 no effect at all. 20 Nov17 (arrowed) bull run already underway with huge volume but BTC stays flat. Currently in bear market with low volumes and BTC rockets.
Cant draw a comparison myself.
Anyone not done so I recommend reading up on Tether. If you believe the people who run it fine. If you don't cryptocurrency in general looks on rather shaky foundations!
nailed it on both sides recently. ready for whatever!