Battle of the titans BTS
Updated
We can see Major Bulls entering the market, although the massive bears also gained large profits if they rebought the dip. You can see a lot of tension coming from CHBTC, since china is in massive panic, due to regulations. BTC in china also fell behind 250 dollars to other exchanges again.
At the moment the BTS price is linked to the Chinese BTC Price. As soon as china goes above 29000 cny BTS will follow strongly.
Or BTS might also break free from the bearish sentiment on its own on poloniex. You can see a massive increase in buy orders on poloniex. From a minimum of 130 btc to a buywall of 450 btc. The buywall on poloniex is 350 btc + at the moment. Giving the bulls time to set a permanent floor, untill the next major uptrend.
Short term i expect bts to test 3600 sat. If bts break trough 3900 sat the uptrend is confirmed.
At the moment the BTS price is linked to the Chinese BTC Price. As soon as china goes above 29000 cny BTS will follow strongly.
Or BTS might also break free from the bearish sentiment on its own on poloniex. You can see a massive increase in buy orders on poloniex. From a minimum of 130 btc to a buywall of 450 btc. The buywall on poloniex is 350 btc + at the moment. Giving the bulls time to set a permanent floor, untill the next major uptrend.
Short term i expect bts to test 3600 sat. If bts break trough 3900 sat the uptrend is confirmed.
Note
As panic hit BTS once again you can see high volume extremely strong support. It is not as easy to crack BTS again. This is a major buy signal in my opinion!
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