I have seen a couple comments about the Bitfinex Chart vs Coinbase and others. If we take a look at the Coinbase Chart, you can see that we have form a similar pattern to the one on Bitfinex.
The main difference is the spike was far less on Coinbase. Appropriately so, they deal in USD while Bitfinex deals in USD and USDT.
Chart wise, we can see that BTC has broken the downward trendline on these chart, similar to Bitfinex and others. On this chart we have less of a defined double channel, and more of a defined
singular upwards sloping channel. This should provide some trading opportunities off this trendline or a good place for longs to enter in anticipation of a move up. Lot of resistance at this
$6,500 level for it to break through, once we get through here, we should see the 7k area.
Happy Trading and hodling,
-Sherem
The main difference is the spike was far less on Coinbase. Appropriately so, they deal in USD while Bitfinex deals in USD and USDT.
Chart wise, we can see that BTC has broken the downward trendline on these chart, similar to Bitfinex and others. On this chart we have less of a defined double channel, and more of a defined
singular upwards sloping channel. This should provide some trading opportunities off this trendline or a good place for longs to enter in anticipation of a move up. Lot of resistance at this
$6,500 level for it to break through, once we get through here, we should see the 7k area.
Happy Trading and hodling,
-Sherem
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For more details, please see my other post on BTC with the Bitfinex Chart -
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