Update to Danger Will Robinson. 6k BTC hold up? OCT 17th CBOE
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Expanded analysis.
Bulls are holding the 6500 support pretty well, but volumes have been very low.
Hopefully this is capitulation but looking at Nasdaq and other charts after a bubble and burst, there is usually a period of capitulation then a high volume sell off and recovery. I believe we haven't seen that yet but I suspect that will be soon. Be patient
Key date to look at is Oct 17th when the CBOE bitcoin futures expire. There usually is a large spike right before expiration and usually in the bear direction.
I am hoping we find bottom this month.
Bulls are holding the 6500 support pretty well, but volumes have been very low.
Hopefully this is capitulation but looking at Nasdaq and other charts after a bubble and burst, there is usually a period of capitulation then a high volume sell off and recovery. I believe we haven't seen that yet but I suspect that will be soon. Be patient
Key date to look at is Oct 17th when the CBOE bitcoin futures expire. There usually is a large spike right before expiration and usually in the bear direction.
I am hoping we find bottom this month.
Nota
Here comes the volume... Get your buys ready.
If all goes well we should hit bottom within the next 2 weeks.
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