Bitcoin: Will (BTC) Pump Be Followed By A Big Dump? (October 2019)
- 5 years ago
Bitcoin: Will (BTC) Pump Be Followed By A Big Dump? (October 2019)
Bitcoin (BTC) has pumped hard since our last video analysis. Those of you that have been following our video analyses for the past week would have noticed that we were short term bullish on Bitcoin (BTC) because a correction to the upside was due. However, we certainly did not expect BTC/USD to pump in this manner. It has not only invalidated our plan of investing in altcoins during a potential altcoin season but the manipulated manner in which it has pumped has now raised further questions as to the sustainability of this move. If we look at the daily chart for BTC/USD, we can see that it faced a rejection at the 61.8% fib retracement level from the all-time high.
Bitcoin (BTC) has pumped hard since our last video analysis. Those of you that have been following our video analyses for the past week would have noticed that we were short term bullish on Bitcoin (BTC) because a correction to the upside was due. However, we certainly did not expect BTC/USD to pump in this manner. It has not only invalidated our plan of investing in altcoins during a potential altcoin season but the manipulated manner in which it has pumped has now raised further questions as to the sustainability of this move. If we look at the daily chart for BTC/USD, we can see that it faced a rejection at the 61.8% fib retracement level from the all-time high.