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BITCOIN breaks to the upside! DGB shows itself a huge winner today

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@ecoinstats
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Excitement abounds as BTC has broken out of its recent low-volatility state to the upside today, as shown in our chart. Already it is retracing, but the excitement is clear after several rounds of government money printing all around the world.

We have always interpreted those long candle wicks to the upside as bullish market orders. Market orders can rocket up the orderbooks faster than sellers have time to book at new prices, which causes much of this market back and forth even when markets clearly want to move in a specific direction.

Notice also that just two days ago, the candles have longer wicks to the downside than the upside, revealing to us that at least some sellers were concerned about a local top, and a retest of a lower number.

DGB - DigiByte

DGB/BTC outperformed today. We are happy to have considered DGB during the recent Alt accumulation phase. It performed very well with our grid trading bot today. These are the days when paying for a trading bot service can pay for itself - high volatility days.

Where do we go from here?

It is our understanding that certain 'market movers' are able to slam the price back and forth, seemingly just enough to stop out options traders. Why this would be we are not sure. Usually a day like today will be followed by a CoinDesk article 'Bitcoin Run up Pinches 177 million dollars of shorts on Bitmex', this is just an example title but it is what we will be looking for tomorrow.

We can never know the future, but the floor appears to be high, we judge the appetite for sovereign currencies (from bankrupt sovereigns) to be lessening, and we are noticing a possible break out in the Silver Price as well.

Stay on your guard, a smart strategy would take into account acute volatility moving forward.

This is not Advice, this is History. Always do your Homework.

Posted Using LeoFinance