This is my view on the current bitcoin -8.71% price.
We're going to have a massive dump.
I see 3 support zones around:
One of the big problems currently is Binance.
They we're almost the only exchange open for registration last month. So all the new people joined Binance. The avarage binance traders don't know how the market works. They only see green numbers and pumping the market insane. But scared like hell when it's dropping.
Also a big problem of binance is that they almost only trade vs bitcoin. But now the big problem! Nobody wants bitcoin, so they going to sell the alt-coins and than dump the bitcoin fast for a really cheap price vs usdt. This way the price of bitcoin will go down a lot more. For example, bitcoin on bitfinex lowest price was 13.7k and on binance 12.7k usd (60 min ago). We shouldn't want exchanges trading alts vs btc, it should be better when exchanges trade alts vs a usdt or other valuta.
Guys, it's simple what I do. I'm mostly in usdt! What I do I keep save here. Just wait it out. If we get a breakout and i'm 100% sure the retracement is over I go long.
Or when we drop I just buy alts at the support zones I drawed for btc.
Whats your current position?
