Dear traders.

You all know how bullish I am for the long term in the whole crypto market.

The last days I saw some really heavy selling pressure when Binance and Coinbase were approaching $6000, but the market recovered really well.

Then the Binance 40M hack happened.

 

The reasons why we are 100% bear for the next 3/4 days are really clear.

1) WEAKNESS OF ALTCOINS.
Great news both for Ethereum and Litecoin, look at what happened to their prices.

2) ENORMOUS RESISTANCE at $6000
it HAS to correct before break it. Bullish whales want to buy low and fuel it back later, while bears don’t want $6000 to break.

3) TECHNICAL
Look at the well-defined uptrend that bitcoin followed up to now, and the weakness that it’s showing.

4) TRIANGULATION
in the short term we need to break out from this triangulation, and the outcome will be to the downside.

But our trade is not on BITCOIN, is on the altcoins, that will suffer even if bitcoin would break $6000.
So we shorted BCH, LTC and ETH, leverage 3.3x on Bitfinex (tether is slowly appreciating too).

Yes, BFCMInvest has a big short position to the market right now.
Will you follow us?

Let us know in the comments