Bitcoin: Bulls In Control After BlockFI Bankruptcy???
Yesterday as it was reported by many crypto websites: " BlockFi Files for Bankruptcy as Crypto Contagion from FTX's Collapse Spreads" as reported by Coinmarketcap"
It was very weird that after some hours of hesitation the price increased by approximately 3.1%
This is a move that makes absolutely no sense in this situation given that FTX's contagion problems are spreading quickly.
So careful these days as everything may happen.
PS: Volatility and price manipulation are increasing day by day.
Thank you and Good Luck!
Komen
⋅
Bitcoin: This was our 60-minute expected wave despite the fact that many don't want to see it. Trading a 60 min chart it means that we have 60 min targets and 60 min trade management. This was not a long-term trade at all.
I hope you have benefited from this move. The rest is history :)
When bad news fail to move down the market, it becomes a strong bullish signal.
AlanSantana
⋅
@AlanSantana, We prefer the bullish side... Bitcoin aims higher:
KlejdiCuni
⋅
@AlanSantana, thank you you sharing your opinion.However the 60 min chart worked our very well for closing profits...I don't see the problem of trading in a 60 min chart and we can never compare it to a 4 hour chart
Lekis
⋅
Great chart thnks
anyalove
⋅
Thank you for your time and pretty TA
Cybernetics_tl
⋅
potential short movement, in swing trading we are just try a good price to buy from the bottom of that structure
Solldy
⋅
Good design and analysis, but the idea does not match my risk management. Have a good trade!
Sembiyan
⋅
BlockFi had already been reeling since spring (which FTX had rescued earlier) and so this is not an unexpected or a breaking story. This news had already been factored in by the markets.
KlejdiCuni
⋅
@artisticCheeta52908, I don't think that it was priced in as it was only an assumption during that time. Also on November 16 if you read the story WSJ was supposing that they were going to bankruptcy but it was not official yet. Official news and speculation about what may happen are very different things. Let's suppose that we may see also Genesis going into bankruptcy will we say we knew that? I don't think so despite the fact that they are already showing the problem with withdrawals. I spoke also with managers from other brokers and no one knew this news. So I don't think it was official at all. Despite all of this...if my analysis is making money all is fine for me :)