Pressure building on Bitcoin, Could this be the breaking point?
Yesterday's candle was meant to signal the end of the downtrend on my daily chart. It seems like it did that and about 30 minutes before close BFX decided it wanted to test 165 real quick. Since that daily candle was meant to signal the end of the downtrend and now a new uptrend is starting with the new daily candle it kind of looks like how it did in 2013, before we had our huge bubble.
It seems like the market didn't support going under 220 because the other exchanges didn't follow. The retracement on BFX was extremely fast as well which is also pretty common for the end of a long-term downtrend in bitcoin. This is obviously a high-risk/high-reward trade, It may be worth it to wait for a higher low before using margin.
"Be Greedy When Others are Fearful" -Warren Buffet
It seems like the market didn't support going under 220 because the other exchanges didn't follow. The retracement on BFX was extremely fast as well which is also pretty common for the end of a long-term downtrend in bitcoin. This is obviously a high-risk/high-reward trade, It may be worth it to wait for a higher low before using margin.
"Be Greedy When Others are Fearful" -Warren Buffet
