Sep 4, 2018 · 1 min read
Thanks Ugly. I also see btc has more room to go up. Mainly because the short funding on Bitmex is still low and the Contango on the Dec futures is minimal. The shorts vs longs ratio on Bitfinex also indicates more shorts then longs at this point. I expect BTC only to turn when the whole market is generally bullish. I see massive resistance in the 7.8k area where we meet both the 200 day MA and the 30 week MA. Both have been critical in calling tops at 10k and 8.5k. I’ll be taking profits there on my sep futures. On a pull back from there I’ll add to my long dec futures position. Thanks for the update!
