Bitcoin is still more pro-long than pro short.
Sicario predicted $120 move up on leverage and closed it, but playing safely brought us 'just' about 5.6% profit.
(For sicario trades, keep an eye at: https://blockchainwhispers.com/bitmex-position-calculator/ )
Bitcoin is now on the verge of doing something big.
There are two,... three big forces at play, and neither is so secretive as people want to believe.
Bullish: Bitmain the billionaire mining giant
Bitmain does not have in its best interest to see Bitcoin under 5k.
All mining machines stop being profitable (on avg),.. their entire industry is gone. Of course they will do something about it.
That is our pro booster of Bitcoin.
Neutral, Double-Edged: Bakkt
With Bakkt there are two things, it is bullish in itself, but also it is on 12th of December... and it is not in interest of big investors to see a massive price rise before that time. We talk about big institutions who already have lots of bitcoin with their black money or under-the-book money.
Having bitcoin at 12k before 12th of December makes no sense for them.
Negative: Bitmex, Banks
Bitmex in itself, although I blame it for many things, it is not per-se cheering for Bitcoin to go down, just their offer of highly leveraged bitcoin shorting makes it dominant force in making a price.
Banks: How do you get the mass to abandon a critically-threatening project for your survival if laws cannot help.
Now this is the meat of the problem.
First goes the hope of the people as bitcoin goes down they are still hoping, to see the bullish times, then they suffer big losses, then you drag it... and as you drag it turns into frustration, and frustration in weak souls (the mass as general) turns into giving up.
And then the PEOPLE tell the people on the question: "what you think of bitcoin"... "aaah, forget about it" one to another.
You see where I'm going?
Do NOT forget that the entire marketcap of bitcoin is 200 billion. That is the same amount banks over the world earn in commissions PER DAY!
It is like sending guys with bows and arrow against American army.
So now we dragged it down... this entire year entered into a speedy correction because just one institution got 500k btc that is enough to control the entire market for a YEAR!
However, right now pre-bakkt I do not think it's the banks that are supressing the price. Right now... the good thing is with Blockchain Whispers you, in most cases, know in advance when some shit is going to happen and have time to prepare.
For example, by the end of this weekend I'll know with 90% certainty if the 5800 range happens before the 6738.
My hunch would say no, but my hunch is based on one secret sauce I can't disclose as this thing would spread like a wildfire publicly, however do know that I use this secret sauce to inform you timely on happenings ahead of time. And this secret sauce can tolerate btc going shortly and sharply to 6000... 5800 levels and below would wreck it totally.
So by the end of the weekend, I will know. For now it is neutral zone, I expect a slight dip. A dip is usual for this weekend time, lower volume, and good time for our alts to go up (Premium members caught this Bitcoin cash pump on the very bottom and rode it like a man just released from prison would ride a hot Russian stripper)... we sold it, and now enjoying the gains and spectating the movement this weekend.
I will inform you and this is like a foundation for you to understand and what to prepare on.
Still bullish, still great timing for entries if you haven't... only keep a list of your purchases in case the wind changes it's direction (again, my secret sauce is strongly against it)... but, you'll be informed and prepared. Being unbiased gives us an edge. Changing direction in trading is normal, and actually preferable. It's suckers those who stick with the losing trade... winners adjust. And we profitably adjust... we were long, we got $120+ move up, we sold... we wait to get good odds and confirmation, then we will probably long again, etc. This is what I teach you - put emotions aside, stop being a fish, trust your own eyes... have you seen this level of accuracy anywhere else? win after win not in easy trades like let's buy alt X when alts are bullish... but bitcoin moves in the highest uncertainty period in a long time...
Blockchain Whispers Baby is here with you,
stay tuned, be badass... see you in trade!