CORRELATED Declines Across Cryptos Initially led by ETHUSD

Unfortunately, for now there are strong bearish market sentiments for Bitcoin that marked a low at 5858 in Asian session, which is indirectly from the contagion and for some a much delayed US SEC approval for ETFs. As CME Bitcoin Futures are much too expensive for retail speculative investors & traders to get into.

The correlated declines across Cryptos, for  now is led by ETHUSD which just made a 2018 new low $268.83 as of this writing. A 9 month low equivalent to more than an 80% decline from its peak price at $1424.00 as of January 13, 2018. Check this Fibonacci Retracement Applied to measure its price from where ETHUSD came from before its rally.

FIBONACCI Retracement Applied

ETHUSD as of Aug 14, 2018

BTCUSD as of Aug 14, 2018

Apparently technical tools are lagging indicators that would not be as effective since the market is currently driven by bearish momentum sentiments. This will also lead to a spill over negative effects for ICOs backed by Ethereum on certain blockchain projects. Likewise, there has been an increase in failed ICOs as more investors are drifting away from offerings and cashing out as prices continues to decline.

A Newer Platform from InterContinental Exchange - ICE - BAKKT

Will have a level playing field . . .

With a 1 Day Physically Settled Bitcoin Futures compared with what has been started. Growth, Real Transparency to a more 'Stable, Secure & Mature Crypto and Blockchain Driven industry is now on the right path, especially coming from another established institution such as the InterContinental Exchange! Other than the CME and the CBOE respectively.

It really pays to know how #SPOT & #FUTURES #Trading by #CORRELATION Works! Likewise, this is where old school meets new technology and is still keeping up by staying relevant in the financial industry until now! 

The experience gained and the willingness to continue learning is what's most important for all. 

#investing #trading #strategies - For the Right Reasons 

Source: FundStrats Thomas Lee Explains 

It's really a matter of choice where accredited investors interest do come first, so we as self-directed investors / traders can focus more on important trade strategies. Thus upgrading trading skills & knowledge up another notch.

ALTERNATIVE ETFs other than FUTURES as a Trading STRATEGY

VALIDATION: Before & After the Fact

Although, there are other well recognize 'Alternative ETFs' relative to Bitcoin futures, as the cost to trade with CME is quite expensive compared with the CBOE when it comes to buying in even at the current prices. 

However, preparing for the timing before the turning point could not have been better from the shared Brief on 'Digital Asset' portfolio & analysis dated June 24, 2018 when #BTCUSD below 5900, #GBTC #ETF was below 9.00 and the newly launched  'Diversified Digital Large Cap Fund' #DLCF was priced at 5.83. 

These are actually bargain prices where the obvious institutional investors have taken advantage of. It pays to do 'Due Diligence' before the rally and realizes that prices have gone higher after the fact price update as of week ending July 27, 2018. 

Current prices as of week ending July 27, 2018 are as follows: #BTCUSD at 8188 with a high at 8506, #GBTC at 11.96 with a high at 12.36 and #DLCF or #DAH / share at 6.52 with a high at 6.71 respectively. 

VALIDATION on Market & Price CALL Period coverage 1 month in the making 

Before the Fact: 

Planning for the Next Turn as of June 22-24, 2018
TSOT - Brief Structure of a Digital Currency Portfolio 

After the Fact: 

Volumes Pushes Bitcoin above 8000 as of July 24, 2018

TSOT- Brief Structure of a Digital Currency Portfolio

Preparing for the Next Turn!

With Grayscale Investment Trust Fund recent February launch of its 'Diversified Digital Large Cap Fund' (DLCF), accredited investors would be able to gain access to get a deeper exposure to its weighted components in a more professional manner of investment criteria.

DIGITAL ASSET HOLDING Price / Share as of June 22, 2018 is at
$5.83 Net Day change of -6.87% Source Grayscale 

Here are the components market cap weighted percentage distribution in the fund where their Rebalancing schedule are on a Quarterly basis. This is based as of May 31, 2018

#BITCOIN - BTC - 55.2%  #ETHER   - ETH - 24.2% 

#RIPPLE  - XRP - 10.4%   #BITCASH - BCH -  7.4%

#LITECOIN- LTC -  2.9%

These components and their respective weightings would be quite useful in structuring our exposure to each or a selected group of Digital asset class both in CASH & FUTURES market. A strategic combination of asset class would be determined by monitoring 'Price Action' on the Bitcoin market as it carries a bigger weight / percentage in the basket fund of digital currency. However, the initial structure would concentrate more towards the DLCF and pre-determined individual funds including our 1st GBTC based from our reference information below. 

The approach is similar to the overall components of the original USD Index (DXY), with relative comparison to JP Morgan Asian USD Index (ADXY) and Bloomberg USD Index (BBDXY). This may seem to be a bit complex for others not accustomed to the strategies, as it involves a certain degree of process which MegaTrade101 has timelessly applied with Spot FX, Futures, Options and ETFs markets, which have been quite effective so far since then by using CIPHER3 Analysis Others may view the complexity of the process, but this is where it all started from and eventually turned into our core strength in trading.

With the recent 2017 launch of Bitcoin Futures by both the CBOE and CME, we are now gearing up to speed on combining these methods in a pre-selected venue. Now that the top digital currency assets are tradeable in a variety of funds it would be time to re-apply its viability. Their respective price and percentage differentials have always been our key asset in determining their imbalances similar to the foreign exchange market. 

For now, we would simply share this brief information, as we structure the portfolio based on this premise to start with. As we all know that the Digital Currency market have been experiencing a remarkable decline and the current pressures are yet to be ironed out in the market. 

Reference Information:

BTCUSD Alternative Trade Strategy

Digital Currency Finds Relative VALUE as an Alternative Investment

After the Fact: Volumes Surge Pushes Bitcoin above 8000 

Managing Record lows from Bitcoin Markets

The Crypto space have been experiencing a lot of backlash of negative events with BITCOIN prices leading the decline alongside the rest of the pack. With its recent registered low at 5921 - Coinbase, comparing prices with BitFinex low at 5910. And at the rate the market is still going, the probability of revisiting the 5511 & 5400 previous low respectively would likely occur, but not without a good fight from each successive session. 

Price volatility increases on the decline from the past three relief recovery after nearly retesting 10000 last May 05, 2018. Failure to breach the 10k mark have led the decline with consistent lower volume and interest as the surrounding negative news have been more influential up until now. 

Meanwhile, after experiencing the overall bearish market performance, traditional & Classic Bitcoin investors who considered hedging in the futures market to cover further risk of loss are in a better position to weather the storm of adverse price swing. And be able to buy enough time to carefully observe market price behavior. 

Being a wise, tactical investor can only best serve their investment interest and  do encourage to make use of what other exchanges has to offer and maximize market potential in both directions. In addition, initial investors who have accepted tokens / other related coins backed by a fractional value from the 5 major digital classes especially from ETHUSD, have to accept the market's current price sentiments for now.

As the tokens offered have been applied as frontline asset class to raise funds as an ICO for their individual companies niche blockchain technology applications in various sectors and industry may have to wait a bit longer to see their investments growth & reward. Although, everyone have their respective reasons for investing and trading.

With that said, price swings in both directions coupled with increase volatility would continue in a downward spiral until such time an encouraging catalyst would emerge in the market that could affect current market sentiments.  The Bitcoin price charts formation has some similarities with UAE's Burj Khalifa structure, so to speak! 


#BITCOIN Classic Overlay #BTCN2018 FUTURES
https://plus.google.com/+JSTAlexander/posts/7VBqYemDTKw

A Welcome Treat Indeed #BITCOIN Above USD9500

Bitcoin Classic surge above $9500 is indeed a welcome treat. Especially for those who have held a cautionary stance while holding asset class and using both strategic trades with the CME's Bitcoin Futures to straddle by capitalizing on informed data analytics between intermediate trend direction from both sides of the market.

Having an active role in the Bitcoin space in these type of market conditions, it would certainly help to keep a 'level headed' playing field so to speak. While still traditional classic investors can use these strategies' accessibility to roll in times of market volatility, so far the extent of bitcoin lifespan to emerge back above the 10k mark could be realize.

Meaning, having the access to spread positions in both market venues can best be utilize as a real mechanism for trading and investing in the digital currency market place. Timely played trades extends the 'Flexibility' for  tactical investors / traders alike to weather the storm of market volatility.

In essence, by using these markets as an important 'Strategy' would be an advantage for those willing enough to 'ADAPT' to market conditions and avoid unnecessary losses with the virtual currency.

We're all here for the long haul and avoid to much speculative moves that exposes an increase in 'RISK' but rather play with the market at its own game, so to speak!    

#BITCOIN Price Sensitivity Remains

In spite of the recent price stability towards its recovery Bitcoin's vulnerability to fundamentals surrounding exchanges and regulations it now boils down more towards the sense of  SECURITY and CONFIDENCE.

Especially with what transpired in Japan's Bitcoin heist which have turned into stricter enforcement with regulators. Although the mere fact that ongoing talks of regulation among exchanges and trading platforms can only be good overtime as the eventual impact of the industry has already made its mark and usefulness across other industry players.

Yahoo Finance Resource: Bitcoin Drops Below 9000 Mark

It would just be a matter of time until these 'Clouds of Uncertainty' would clear out for Bitcoin and its relative Blockchain technology's by-products would sit on their respective places. Besides we are gathering so much big data that we would be able to use well for future reference when called for. So far the ups and downs on price swings have been quite orderly in spite of a wider drawdown below 9k mark has led other speculative traders to rush towards futures to hedge their Bitcoin holdings at this time.

Although, classic traders and investors find it difficult to do so as others may have a far better tolerance levels than those who only trades for speculative purposes. Note, that it took a month to move back below this levels and for bitcoin to do is a good sign of market stability among participants.

Related Info: In Search of ALPHA Trading EDGE

BEST & WORST for BITCOIN is OVER, For Now!

It's been barely two months since both the CBOE and CME have engaged in the Bitcoin exchanges. While we've probably seen the initial highs marked near the 20k levels and a secondary near 17200, it is a fair assessment that these highs can now be called good price reference on the high side.

Meanwhile, aside from where all these prices came from, the rapid decline from these highs have made it clear that the first low near 9020 and the secondary low marked at 5870 low likewise serves as the initial base price to consider. The wide range established between its high and low simply means that the price action on Bitcoin price swings may well still be in triple digits in both directions. Substantial enough for speculative day traders out for a quick bite of the market but not excempted from the risk of loss at the same time.

Observing preice movement and market behavior since the two major exchanges opened and how well the prices of bitcoin have remarkably been well tamed from where volatility kicked off a couple of years ago. In simple terms, the hot market have cooled off with both exchanges participation have dramatically paved the way for much of the oderly transactions that we see today. But not without a price to pay, as we see the price of bitcoin has been sliced to more than half of the range it has to day.

Although, the price range between 8k and 12k could well be considered a fairly priced level of transactions as it navigates itself for a long period of consolidation. It so happens that the length of time that Bitcoin would have to narrow that wide gap until such time it can break out of the consolidation phase. The random price swings can go in both direction, but at least with a short price reference slightly over a month could still prove to be a good reference for short term trades based on its technical perspective. Don't expect to make the same type of returns it once had. Even the way that GBTC already did a split 91-1 that would not give the same levels.

Choosing between classic or Futures trading on bit coin would really depend on investor / traders goals and objectives. As both carry a higher degree of risk and capital to start with regardless leverage or not, the risk involves a higher degree of loss with an equivalent reward at stake as well.

For those who have already been holding on to whatever amount or price of bitcoin then, consider futures market as a strategy to protect the holdings against any adverse future price fluctuations. And simply make use of whatever available methods the market has to offer to enhance and improve your portfolio or trade positions.

Be a smart tactical investor / trader and outmaneuver the market

at its own game. 

With CLASSIC, FUTURES and BLOCKCHAIN Relative ETFs Market it can only get better over time as the global market evolves around technology driven innovations continue to move forward.      

#CME Pulls its Muscle & Tame the ROAR of #BITCOIN Rally.

After CME's launch date on DEC.18 it has been quite a significant down hill pressure as evidence reflects in today's prices for #BITCOIN and its relative peers now trading below the 10k mark. Indeed, this is the way how #CME pulls its muscle and tame the roar of the rally.

Market Watch Reference:

 Bitcoin Trades below 10k 

Of course, it was easier said after the fact, but knowing how these institutional players takes action the level of difficulty against the CME traders is definitely in a scale of 10. We can now say that our 1st year anniversary gift was a welcome treat last Dec 16, 2016 on GBTC entry (published on Dec 27, 2016 Market call)  -to- Dec 16, 2017 Settlement date followed the plan has now been VALIDATED.

It does take a month after to be able to do so.

As a new low for the 1st of January have been made for now. 

USD Weakness Lifts Major European Currencies Higher

Among others!

With some Asian exchanges still closed for the holiday, the start of the new year for China's Hang Seng Index (HSI) moved reaching a 10 year high at 30515.31, +596.16 pts. = 1.99% on the first trading day of 2018. With Shanghai at 3349.05 +41.88 = 1.27% increase likewise, shrugged off the decline in the US equities on the last day of trading 2017.

With the USD slipping into negative territory for the year at 92.08, the USD Index would have quite some difficulty to recover at this early stage. Currently, the US Dollar index is at 91.85 with a low at 91.75. And may find itself in search of a bottom at the start of January trading. For now, any price recovery may simply end up as a relief recovery up until the mid-term of the 1st quarter of 2018.

AUDUSD As of January 2, 2018

Which can only mean good for the Aussie Dollar now at 0.7840 from the bottom price of 0.7500 just last Dec 08, 2017. And the continuation for the EURO currently above the all important price of 1.1880 and is now at 1.2035 to this writing. While CABLE have been dragged from the BREXIT negotiation table, it had worked itself back to its current levels at 1.3555 with a second wind aiming to mark 1.3580 - 1.3680 range for the week ahead.

With the backdrop on OIL's recovery above $60.00/bbl and Gold managing to stay afloat above $1300 /troy oz. at the rate that both markets have kept a firm grip due to the USD soft prices for the 2017, after briefly touching a 103.00 basis point on the 1st week of January 2017. And continued its decline starting the 2nd quarter thereafter. That's is why we have stayed well within the equities market towards the end of the year. With only to carry the AUSSIE Dollar and CABLE as Europe starts to gain economic ground from their recent lows, while focused on BITCOIN and GBTC Investment Trust settlements prior to the CBOE and CME launching their respective trading. An excellent trade decision if we may call it above par! As it would be unwise to trade against the CME when it comes to Futures trading.  

Let's see the first month's trading and decide how the 1st quarter would really look like based on our near term analysis for the USD as always our basis for market reference. 

PRICE ACTION on CryptoCurrency

Speaks Louder than Words can Describe!

#BITCOIN market sentiments has spill over effects on #GBTC Investment Trust which has out performed even our best expectations well within our one year anniversary. However, those who intend to short futures may have to think more than twice going against the major trend for now. Needless to say the value speaks for itself and this goes the same way with #ETHUSD

GBTC Investment Trust

CME debut have again boosted GBTC Trust Fund as a security under the Stock OTC category and led prices further, extending the move extremely well near the USD3500 with consistency in volumes. And we shall be carefully watching 'open interest' once a new report would be release for Bitcoin futures made available from the CFTC.  Chart Update: As of Dec 19, 2017 

ETHEREUM - ETHUSD as of Dec 17, 2017

GBTC Price GAP Above 1200

Opening with a price GAP and monitoring whether this particular bar would hold as a 'run away price bar' or 'an island /exhaustion bar' where the probability of filling in the gap would be considered after the closing price on a daily session.

On the other hand, regardless of it, the weekly trading sessions will define the actual candle bar interpretation at the closing week of Dec 1 which happens to overlap with the opening price levels for the new month. Something to seriously consider as a chartist or market technician. 

Although, this market is momentum driven by the interest in value of bitcoin and the exceptional rally it commands.

Comparative Chart & price update: GBTC BTCUSD ETHUSD
As of US session

Momentum has indeed been the driver on BTCUSD as prices is shy away from the 10k; while GBTC have gotten ahead of the market gap that it is currently at USD1450.00. And not wanting to be left behind is ETHUSD at USD470.00 with a recent high marked at 487.00 as of writing.

GBTC Price Update Above 1200 as of Nov 28, 2017

Trading the Bitcoin market is more focused as an 'Alternative Trade Strategy'.

As it carries a much higher degree of risk due to its volatility and susceptibility
to its current market regulations.

It is well recognize by the Luxembourg Financial Regulator, the Luxembourg Financial Industry Supervisory Commission (known as CSSF)

#GBTC Marks Above 1000k as of Nov 25, 2017

While #BITCOIN pauses for a breather between 8354 and 8000 levels #ETHUSD and #BCHUSD are trailing in the same manner and direction with the classic leader.

As mentioned, that a 'TUG of WAR' has emerged from the surging crypto currency market that have taken notice on Wall Street big wigs. Especially so when the soon to open Bitcoin futures takes into center stage led by the #CME. Its going to be a sight to see who among these players on Wall street shines in the opening bell. While the community may just be on the initial sideline with a wait / see attitude. 

May not have gotten the full run on the classic but sure enough the GBTC has managed to outperform our earlier expectation of an exceptional market rally just well within one year.


Price Update: GBTC Above 1200 as of Nov 28, 2017

Reference info: GBTC  market & trade position

'FORKING WALTZ' between BITCOIN & BITCASH

#BCHUSD Benefits As #BTCUSD Drifts on Profit-taking & Alternative Moves

TUG of WAR has just started a DIVERGENT TREND DIRECTION 

The weekend proves to be a 'Forking Waltz' between #BitCoin and #BitCash price divergence in today's price action. The relative decline of Bitcoin below the USD7000 after making a quick stop at 7888 would seem to be the initial trade reaction from the surge of BitCash in the USD1350.00 as of today.

Increasing Volumes on New Trade Entry

The probability of the some traders switching into BitCash is just a fraction of Bitcoins prices, but trading above the USD1000 mark in a relatively rapid pace can still be attributed to the kind of market behavior of spot BTCUSD into the equivalent market. Although, we are anxious enough for the upcoming Bitcoin ETF that would be launch by Power-Shares and BITCOIN Futures by the CME - Chicago Mercantile Exchange and the CBOE - Chicago Board Options Exchange. 

The similarity can still progress into the same volatility at  first but will tame into a better trading scope as the new market would grow  steadily on its own sooner than everyone would expect. And in spite of the fact that some sees the community being divided into their own financial choices. But the way we view this industry would be in a manner of preference on how this should best serve the investor's interest other than the financial objectives set by companies and institutions that makes up the entire industry as a whole.   

   Diminishing Volumes on Profit-taking activity

BITCOIN Still in Search of New Record Highs

#BTCUSD price have marked a 6316.85 high on the 29th of October and so far is maintaining its stance reflecting a new search for a newer high. This is on top of a declining volume that has kept prices relatively high on good demand and positive market sentiments against contradicting statements made on wall street.

Price Update: At USD6571.00 As of Nov 1, 2017 

Price Update: As of Oct 31, 2017

Once #BTCUSD broke the 5000k mark with a significant move; it has entered a new phase where a new higher channel have been established that serves as the 2nd channel & compartmentalize its price action in search of newer record levels. And the 6316.85 proves that point.Meanwhile, the current price at 6550 is well on its way to our projected price range nearest to 6780.

Reference to Ideal Price Range Objective between 6250 - 6780

Related Information: 

CME Group Announces Plans to Launch BITCOIN Futures 

Bloomberg Chart that best describes BITCOIN rapid acceleration

BITCOIN Finds Relative Value as an ALTERNATIVE Investment

#BITCOIN have finally been making headlines as the Relative Value of the Digital currency has reached record levels above 6000 with a registered high at 6098.91 to date. It had gone though a series of market set backs from Mt. Gox and Chinese clamp down on exchange closures to Jaime Dimon fraud remarks of the digital currency. At the rate that prices are surging, and for as long as no market distraction would appear unexpectedly, USD6250 - 6780 would be an ideal objective compared to its current rate and momentum. 

Bitcoin price extensions are well calculated to be nearest to the USD8000 levels, but with greater probability of increase volatility and could attract profit taking that would result to a heavy pullback once a sudden melt-up occurs. A cautious play on risk / reward has to be seriously considered at this point. 

BITCOIN Finds Relative Value as an ALTERNATIVE Investment 

Reference: Bitcoin An Alternative Trade Strategy

Discussion goes on Bitcoin at Yahoo Finance

#BITCOIN Above USD5200 - #ETHUSD 306 Follows:

If you can't beat them, might as well join them! Rumors on China.

This phrase has been what rumors are saying. But it's just rumors until such news can be confirmed. Yet, it only proves that the demand for #BITCOIN #trading would be here to stay as market cap on bitcoin grows with #ETHEREUM coming in on 2nd. Likewise, Bitcoin prices carries a higher degree of premium over the rest of the pack as it maintains is biggest market cap especially at these current prices. And the technical angle where it is now defined with a valid channel as prices continue its upward trajectory.

Eventually, ProShares filing of Bitcoin ETFs will surely add to the legitimacy of the cryptocurrency. And people such as Jaime Dimon would have to contend that the digital currency is here to stay no matter what his views are on the matter. 

Price Update as a result of Market & Price Call

The valid VOLUME and PRICE REVERSAL on the ETHUSD have shown a steady and gradual trend. Part of which is a 'Mid-Price Consolidation well within a symmetrical triangle. Price 'Correlation' with VOLUMES has created an interesting 'DIVERGENCE' where the prices would take a cue from current BITCOIN prices. Obviously, ETHUSD have been lagging behind BTCUSD including the GBTC Investment Trust that tracks Bitcoin prices. 

On Yahoo Finance: #Bitcoin Hits Fresh Record Highs on Rumors of Chinese Ban Reversal 

ProShares Files for BITCOIN ETF and One to Bet Against It

This has been widely anticipated as #ProShares prepares alternatives ways for investors and traders alike to potentially carry a certain degree of manageable risk surrounding trading the digital currency. Its acceptance , though slowly building into a real global powerhouse as its block-chain technology backbone is now getting into important Fintech related industry levels and companies developing into the future.

 

CNBC: ProShares Files for Bitcoin ETF  

A well thought and planned addition and outright solution for the #Futures and #ETF market. If it can be done with the volatile #FX market so can it be made possible with #Bitcoin and its related financial instruments. Though it still take some time to get all things ready by then market landscape for digital currency would be widely accepted. Especially when these instruments would be traded in the US where regulatory requirements are well managed. Accredited and most sophisticated investors may well be the first ones to engage once all systems are a go. 

Likewise a welcome treat for us at MegaTrade101 as we facilitate and relate to the modernization of our clientele that would be provided a selective choice of instruments that would best fit while serving their respective objectives. The relevance of trading and investing in today's changing market conditions is important moving forward to aim for Alpha in spite of the global low rates eventually would change in the near future starting of with the US Federal Reserve.

#BTCUSD Record Rally Above 3000 Mark

Driven by Volumes, Momentum and Market Price Sentiment have allowed Bitcoin to surpass the 3k mark; trading at 3380 as of this writing. Its 'Collective Market Cap' equally past the USD50B mark led to investors demand of the digital currency to record levels. Which we think also added to the positive tone that the global stocks and investors sentiments from the better than expected figures from the JOBS report have likewise spilled over to the Bitcoin market. As the recent acceptance from Japan and Korea added to fuel its growth potential in the near term rally.

As of August 7, 2017

For now, the overall technical perspective we defined has been limited to the figure best described below as prices have continued to move higher towards the 3200 levels well above the projected objective. No matter how prices extend to greater heights, we'll take it and watch were an exhaustion can be set in place, whenever there would be one to this writing.

Meanwhile. our GBTC Investment Trust is back towards the USD525.00 with a convincing opening gap that could lead towards a run away price gap supported by the solid fundamentals of BTCUSD heading on to this week.  

Notice the similar chart formation that we have applied which have signaled a high degree of probability for BITCOIN to attempt a newer high. Although, the parallel lines projected have set its higher goal, it has gone through the USD3250 levels.  A Clear, Clean and Simpler Approach Defines Trade Potential once Identified! And Results delivered after the fact.

As of August 11, 2017 - VALIDATION Price Update

#BITCOIN PRICE UPDATE: ABOVE 3700 Extension weighs in Market price from momentum trades. 

When the such price behavior runs in a pattern from its decline it can rally in a similar pattern once a reversal has been identified. The market run in this particular case was in multiples of USD300 +/- value unlike with the AUSSIE Dollar previously described. However, such methods can go in a variety of ways applied depending on the market conditions. The difference is huge simply because the market runs on price and momentum acceleration from demand and market sentiments.    

 

As of Aug 18, 2017 UPDATE: #BITCOIN Steam Fades on Profit-taking
Validation

#BITCOIN Steam Fades from Profit-taking

Choices & Decisions #investing #trading #Digital #Currency

The obvious #BTCUSD run came into an initial wall that saw prices drifting lower at the end of the week's trading above USD4050 from a recent high at 4480.00. Traders and speculative investors have managed to hang-on as demand could be felt from price action movements. And waited until prices marked its high nearest to the USD5000 initial objective which prompted to cashing gains gradually as its continued to drift lower towards the closing week.

Follow-through & Trend-Following #BTCUSD after China Crackdown

#BTCUSD full price recovery have been made with current prices well above previous high @1220.00 The 'BASIN / CUP' formation has been defined with prices trading well closest to the guiding range.

As of March 01, 2017 Asian Session

Meanwhile the corrective move below its previous high serves as the pause with the directional trend remains. On the tech angle, expect the 'Handle' to be made at the full completion of the formation. Pullbacks from highs are expected as prices will drift gradually lower to form such handle before resumption of its higher prices moving forward. Technical trading surpasses China intervention on Bitcoin exchanges.

Reference Info: China Hammers BITCOIN Exchanges