30-08-2019: Continued decline?
Let us look at what has happened with the Bitcoin since my last analysis.
In the end, we were given an increase in Bitcoin to the price areas we had indicated in scenario 1: $11600 and $11800. The market then turned around and dropped sharply. The $10088 support was broken due to a very large sales force. Bitcoin has fallen to our light blue rectangle zone, close to the area expected for a strong rebound ($9252) .
Thus, scenario 1 took place before continuing with scenario 2, while respecting the important areas we had indicated to you.
Yeah, we got a bit fancy with the intro, right?
This is just a short note to our readers to stay careful when it comes to holding Tether ($USDT). With the recent news about the synthetic dollar, it becomes pretty dangerous to use it in stormy times. We also liked to use it to get out of our altcoins when bitcoin went wild or we suspected wild waters. However, we will refrain from doing that anymore in the future. There was always something fishy with the concept, of having basically an exchange (the team of Tether has quite a few matches with the one of Bitfinex) being able to print money out of thin air, but now it became even worse.