We?re getting close to year end and long only hedge funds and whales are likely trying to pump up profits to salvage what has been a horrible year for crypto
We showed you a potential bullish move for BTC yesterday and price did move up slightly ? now XBT has joined the party and has the same set up as BTC ? so here?s the bulls chance to retest the 2018 trend line at $5000. Will this happen? Probabilities say NO ? volume just isn?t there yet and there?s a perfect set up for a bearish reversal here and down we go to new lows (at least for BTC). See BTC and XBT charts below for all the details.
ALTCOIN TRADING – wanna make money? respect the pattern!
We share an ETH chart with you as an indicator for the altcoin market (LTC and other large cryptos have the same set up fwiw ? the takeaway is close tomorrow means SOMETHING.)
However, we think the most important chart we?re sharing in this post is FCT. If you took the trade we shared last week you were up 25+% ? and lost all of that today. Same sort of hard drop for BSV which was up nearly 100% (chart not shown but we?re watching?.). XRP was similar last week which we warned you about as price fell below .42.
Now as we post this we?re seeing strong moves up in XEM ZEC and a few others. WE SEE A PATTERN (that?s what we do) ? You can be profitable trading in this market but you have to get your strategy CRYSTAL CLEAR ? and right now ? THEY appear to be making a nice return on an altcoin ? then rotating to the next altcoin
Think about it? we?re getting close to year end and long only hedge funds and whales are likely trying to pump up profits to salvage what has been a horrible year for crypto ? so watch this modified ?pump and dump? strategy because it?s working ? until it doesn?t of course which is why we TRADE SAFELY!
NOTE: XBT CHART CUT OFF ? should say edge to bears due to volume.
