07/10/2019 — Crypto Price Recap
BTC-USDT waterfalls from $13K and drop to $11K range
Why BTC-USDT moves up so strong to challenge $13K again? The answer is easy because USDT wants it to. In June, USDT supply increased by $800M and it moves up BTC price from $8500 to $14K before plunging to $10K. In July, USDT has increased supply by another $400M, which moves BTC up quickly to $13K.
BTC-USDT
BTC-USDT free falls to 4Hour support line at $11K.
Before the free fall, it moves up quickly over $13K with a 2K BTC buy wall.
Then in the morning, it comes with a huge sell wall.
Someone certainly tries to control the price direction of BTC but the question is who…… I have to say nobody likes this type shaking out as sudden price movement hurts the whole crypto market in general.
BTC Moves Up, ALTS Falls in BTC
BTC Free Falls, ALTS Falls in USDT.
Damn it~!
ETH-USDT | ETH-BTC
ETH-USDT drops under $300 and is weak in general
ETH-BTC continues to fall under $0.024 and ETH-BTC has not performed well this year.
LTC-USDT | LTC-BTC
LTC-USDT drops from $120 to under $100 and recover around $105.
LTC-BTC drops to 0.0081 BTC and is stablized at 0.0088 BTC.
Last night, LTC-BTC has a huge buy wall of 22 BTC at 0.0093 BTC when BTC is attacking $13K. It was eaten up within a minute. The sudden sell off may be a fire sale to stop loss.
BCH-USDT | BCH-BTC
BCH-USDT drops under $400.
BCH-BTC continues to go lower and is weak around $0.0334 BTC.
BSV-USDT | BSV-BTC
BSV-USDT falls to $185 and hardly holds up before trying $125.
BSV-BTC is trending lower back to where it started in late May.
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