Mt. Gox BTC were stolen from investors, inversely Tether may have lost USD to government seizure.
To get out of Bitfinex or Tether you have to buy BTC. As it turns out that is a lot of extra buying hence the $350 premium on Bitfinex. It is kind of like the premium in Turkey or Iran also not well backed by USD.
Likely not enough buying to take the price above $6150, might only be enough for the final push to $5800. Either way, it will not cause the bear market to resume course. After this run BTCUSD will likely set a higher low somewhere between $4400 and $4650 before making another run all the way to $6150 and beyond.
In contrast to the last BTCUSD bear market, RSI divergence both bullish and bearish , have been seen in the majority of medium-term momentum reversals in the last year.
I expect the price to stay within the range of this pitchfork . The longer it takes to move lower, the less of a move that will likely be. At the moment a higher low of $4400 to $4650 is definitely in play.
Be a responsible person and make your own decisions about where to put your hard earned money. I am not a financial adviser and this is not financial advice.
To get out of Bitfinex or Tether you have to buy BTC. As it turns out that is a lot of extra buying hence the $350 premium on Bitfinex. It is kind of like the premium in Turkey or Iran also not well backed by USD.
Likely not enough buying to take the price above $6150, might only be enough for the final push to $5800. Either way, it will not cause the bear market to resume course. After this run BTCUSD will likely set a higher low somewhere between $4400 and $4650 before making another run all the way to $6150 and beyond.
In contrast to the last BTCUSD bear market, RSI divergence both bullish and bearish , have been seen in the majority of medium-term momentum reversals in the last year.
I expect the price to stay within the range of this pitchfork . The longer it takes to move lower, the less of a move that will likely be. At the moment a higher low of $4400 to $4650 is definitely in play.
Be a responsible person and make your own decisions about where to put your hard earned money. I am not a financial adviser and this is not financial advice.
