Hey Rubikators! At this time we imagine the desperation of many people in the market with the latest price hikes in some cryptocurrencies, and especially our beloved Bitcoin shark.
We also know that they are stressed because we have not described educational issues like this. The real reason for this is the multiple invalidation of technical analysis and market statistics. This week has really been a bit confusing.
Therefore, we have brought a special edition for those who are real market sharks and who understand how the reality of this game is.
Future Markets Follow Their Way
In relation to future markets, statistics show an incredible sustainability in the negotiation of active crypto. A clear example was the massive settlement made in Bitmex in the last hours. There were more than 200 million long positions that were liquidated.
The conspiracy theory says that the reason for all this price drop is due to the expiration of future contracts by the CME. From this, we have been observing during the last months, that every time certain contracts expire, it seems that the institution makes a massive liquidation that in personal terms seems like an extreme panic.
Remember, financial institutions never want to lose, they just want to know how to win.
On the other side of the ocean, we have the Bakkt, which after the last disappointment for the market, seems to be showing a proper recovery in future contract negotiations. To date, more than 299 Bitcoins have been traded within the Institution.
Now, we have to ask the SEC to please stop over-handling the market with so many ETF proposals that until now it seems only illusion.
As he did know cointelegraph, Delaware-based asset manager Kryptoin Investment Advisors applied with the United States Securities and Exchange Commission (SEC) to launch a Bitcoin (BTC) Exchange Traded Fund (ETF) on Oct. 15.
Personally, these banal proposals of ETFs are only infringing market investors. Therefore, SEC formally asks you to please leave the monopoly, be neutral and say if once and for all ETFs will exist in the Cryptocurrency market or not.
And to clean up all the mess, even if it is not related to market futures, we must finally highlight the fact that Binance USA exceeded more than $ 10 million in daily trading volume as reported cryptoslate.
With all this we want to teleport you to the complete market review for the last hours.
Total Market Capitalization And Sentiment
By the time you read the following lines, the cryptocurrency market will have already closed with a total capitalization of approximately of $205,6 Billions and a volume of 24 hours of trading around $76,3 Billions.
The sentimental data of the communities throw us a punctual neutrality. In other words, there has been no noticeable change between the fear index and the temperature that is breathed within the market.
Of course, we have to worry about falling prices. But we must understand that this moment what is happening is the expiration and liquidation of future contracts, where really those who have control are the financial institutions.
Bitcoin And Dominance
At the time this report was made, the closing of the price of Bitcoin would be around $ 7.5k, registering a fall of approximately 10% in relation to the previous day.
In the daily chart we can see a rejection of wave 3 that we had foreseen in our past analysis and with the liquidation of future contracts, the volume of negotiation for the closing of the market would be generating a wave 4. We remember that we particularly do not trust Elliot’s theory, but we use it to follow a logic.
This logic indicates that we are in an area of extreme risk and that is confirmed with the price sequence positioned below the EMAs 9, 21 and 50.
The MACD indicator shows us some neutrality in terms of addressing and RSI pointing 32 points, it tells us that the price begins to be oversold.
If we move to the weekly chart, we can see in which Fibonacci region we are and we can see better in which support line the price is wanting to position. The 0.7 Fibonacci region is considered an important protection region in case of correction.
The weekly chart also shows the breakdown of the support that the price was doing with the EMA50.
RSI begins to score 42 points, indicating that the price is about to reach the oversold state, and the MACD indicator shows us that we are still exposed to the correction.
The dominance of Bitcoin tried to break the last line of downward trend, but seeing the daily analysis we can see that it was rejecting and currently the dominance is shown in 68%.
However calm it may seem, the sea is still rough. Therefore, the advice we give you for this case is to learn to swim between sharks.
We Are Learning To Eat Sardines
We understand the despair of many at this time. But the good thing is that we, the Rubika Ventures team, are learning to swim among sharks and learning how they really eat sardines.
As you can see, we took advantage of yesterday’s lunch and made good profits with Bitmex in our Premium Club.
After sending the alert that the price of Bitcoin was going to fall, we sent our premium subscribers a signal to open a short position and in just one day of follow-up a 90% profit could be made using 10x in Bitmex.
And to our surprise and those who followed the BAT signal, we have already accumulated a total of more than 45% of profits. Not counting that the CHZ signal left us 100% of profits as the following graph shows.
From all this, what we learned was the following: many say that the sea does not have rough waves, others do not even believe that there are islands and there are other people who do not even know our ship. But we have already learned how sharks should act and crypto assets.
Therefore, if you are interested in knowing who we really are, we invite you to read this article “Financial Education As Innovated Strategy For Saturated Market”, where we really want to show you our future and the advantages of being part of our premium club.
In another hand, It is gratifying to know that our premium subscribers are making a profit thanks to our technical analysis and trade signals. We will continue working to offer a job done with love and passion.
Thank you for believing in us.
See you in the next. With Love 💛, Rubikators Team.
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