Bitcoin: What the hell is going on?
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Hello dear crypto friends, hope you're doing well!
The BTC bulls are raging through the 6k resistance, but I don't think this is technically explainable -there are strong fundamental reasons (hands) behind this. Gonna talk about this, and also my personal plays with LTC & BCH. Have fun watching! ;)
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Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
The BTC bulls are raging through the 6k resistance, but I don't think this is technically explainable -there are strong fundamental reasons (hands) behind this. Gonna talk about this, and also my personal plays with LTC & BCH. Have fun watching! ;)
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Note
Update regarding the fundamentals: The CTO of Bitfinex tweeted today that Bitfinex is raising the LEO in USDT (and equivalents) => This is one very good reason for Tether demand and could explain the current reversed premium on real USD, basically leading to Tether being more valuable than USD. Also, since the Binance hack, the company could have gone over to basically acquiring the missing BTC. => Also a very good reason for BTC demand.
This comes on top of what is obvious: Institutional demand (Bakkt, Fidelity) and shorts getting squeezed in this region. Aaand now, obviously, retail traders FOMOing in, esp. the HODLers who were away for months, are coming back in/looking at the charts again.
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