NOTE: See prior posts for last 2-3 days for overall crypto market update as patterns have been extremely accurate. We indicated in prior posts that we see this week with mod to high prob potential for BIG MOVES and so we do have a few updates worth sharing .
While patterns are far more important to safe trading than news, sometimes news is worth nothing and today brought “news” that Poloniex exchange is being bought by Circle which is owned by Goldman Sachs. That certainly adds to the bullish case for crypto as it brings an investment leader into the exchange marketplace.
We have seen a bullish move in response to that news but we strongly encourage sticking with defined trades based on patterns, indicators and targets as Goldman Sachs is not well known for handing money to the little guy trader, so we want to be sure we stick with the probabilities for our trading edge vs going all in on good news.
The GAS trade below is worth watching even if you don’t trade it because it trades on limited exchanges and only in BTC — this COULD mean something to the ST/IT altcoin vs bitcoin case (something to watch VERY closely!) case if we see a strong Wave 3 style move from GAS — but it’s a SAFE trade with strong upside and limited risk in any case.
3 CHARTS — BIG MOVE WEEK?
Volume doesn’t lie — Goldman Sachs bought a crypto exchange — THEY aren’t buying it….YET–but the potential for an explosive breakout is coiled and ready.
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