BitcoinSingkat
BITCOIN: TETHER FUD.
Ok so this is an unusual unforseen scenario.
This is how i plan to play it at this very early stage, preempting the information.
I have gone to cash (actual fiat not USD) and i am expecting a sell off on the BTCUSD fiat pair.
The reason why is because those people holding tether will want to hold fiat while there is risk in tether.
The way this will be achieved is likley to be via buying crypto, moving, and selling into USD.
This therefore means that there is downside risk on the BTCUSD pair. I expect the BTC USDT pair and all other crypto-USDT pairs to move higher as the coins are demanded.
This may be what is neeeded to retest the 200DMA / generally backtest the breakout.
I would like to catch a bid between the 61.8% retracement and the 78.6. I might scalp around on any opportunities.
Hopefully this is all just noise and it blows over, but i thought i would share my immediate short term thoughts re risk mitigation.
Lets share thoughts below.
If you like this idea, appreciate the like => if you want to get more regular updates, follow me on twitter.
This is how i plan to play it at this very early stage, preempting the information.
I have gone to cash (actual fiat not USD) and i am expecting a sell off on the BTCUSD fiat pair.
The reason why is because those people holding tether will want to hold fiat while there is risk in tether.
The way this will be achieved is likley to be via buying crypto, moving, and selling into USD.
This therefore means that there is downside risk on the BTCUSD pair. I expect the BTC USDT pair and all other crypto-USDT pairs to move higher as the coins are demanded.
This may be what is neeeded to retest the 200DMA / generally backtest the breakout.
I would like to catch a bid between the 61.8% retracement and the 78.6. I might scalp around on any opportunities.
Hopefully this is all just noise and it blows over, but i thought i would share my immediate short term thoughts re risk mitigation.
Lets share thoughts below.
If you like this idea, appreciate the like => if you want to get more regular updates, follow me on twitter.
Penafian
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