Thoughts on the market
Bitcoin is pouring, altcoins even faster. Where is the bottom?
In terms of structure, bitcoin is still in a narrowing with a cellular range. The update around $56,500 broke this structure and increased the risks, reducing to $51,700.
Until the low is removed, I am for a rebound.
At the moment, the pressure is not so much on longs, but on spot positions and miners. The screen above, miners capitulate as at the very bottom of bitcoin.
They are moving bitcoins on the MtGox case, as well as bitcoins of the German government. Which also creates pressure on the market.
I see a lot of medium-term signals on the long section, but locally everything looks very weak so far, and the neural network again sends shorts for days. Based on her signals, I have already opened more shorts than longs, partially hiding the profit on shorts, and leaving some as a hedge to long positions.
Spot-shopping keep. 1 reply
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