#BTCUPDATE - 8.8.21
DIRECTION CONFIRMED AND ITS DOWN.
Looks like all the regulatory FUD was a little too much. It makes very little sense as netflow of BTC onto Exchanges is negative and there really is so little BTC (Comparatively) on exchanges atm. So whilst we are expecting a dump I don't think this is going to break the 30k range as there is so much stable coin waiting on Exchanges.
Short term - I am fully bearish and expecting a touch of
31K - don't get drawn into catching knives here at 32.5k think there will be a fake bounce to potentially 33k. Then dump from there on the inevitable 2nd dump which I think will come with US coming online.
I am currently Short on BTC to 31.1k with another short set up at 33k.
Lets see what happens in 45mins!!!!
Looks like all the regulatory FUD was a little too much. It makes very little sense as netflow of BTC onto Exchanges is negative and there really is so little BTC (Comparatively) on exchanges atm. So whilst we are expecting a dump I don't think this is going to break the 30k range as there is so much stable coin waiting on Exchanges.
Short term - I am fully bearish and expecting a touch of
31K - don't get drawn into catching knives here at 32.5k think there will be a fake bounce to potentially 33k. Then dump from there on the inevitable 2nd dump which I think will come with US coming online. I am currently Short on BTC to 31.1k with another short set up at 33k.
Lets see what happens in 45mins!!!!
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