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it is October 11th, 2018

BTC dominance is currently at 53.2% (+ 0.9%). The total market cap is currently at $205.8 billion (- $14.1 billion). The market volume of the last 24h was $13.5 bilion (+ $1.4 billion).

Fundamental analysis

Study: Bitcoin Whales Are Not Responsible for Volatility

https://cointelegraph.com/news/study-bitcoin-whales-are-not-responsible-for-volatility

Breaking: Harvard, Stanford, & MIT Have All Invested in Cryptocurrency Funds

A Solution to Crypto's 51% Attack? Fine Miners Before It Happen

https://www.coindesk.com/a-solution-to-cryptos-51-attack-fine-miners-before-it-happens/

Technical analysis

When it is no trade zone, then it is no trade zone! In last 11 days our team opened only 7 trades 6/7 succesfull! One of them was long from 6413 that was closed at 6595 and another one was long on 6590 that was closed on 6595 (stop loss moved to that price after it went up but it came back so it was close on break even). Most of you will think that 6 trades in 7-10 days is too bad but at the end we are in profit and we are not caught in this huge drop! 

Maybe you expected drop, maybe not! It is individual opinion but in general market looked very stable and this drop is result of auto-trading! Why?

Go to Bitmex and you will see BTC price at 6000. Go to Bitfinex, price will be at 6300. How? Simply, Bitmex is larger exchange and there were much more opened positions! 

If you check out the chart you will see where were stop loss areas! Once big money managed to reach first stop loss area, chain reaction started and in 10 minutes we reached 6000!

When you open position, you have liquidation price and if that price is reached, trade is closed automatically! That's why, all trades with leverage greater than 20x were liquidated + all trades with stop losses! On the other side, on exchanges like Binance, price dropped to 6300 ( it was only drop of $150). Why? 

Because Binance is not offering margin trading and holders are not worried about decline of few % in price! This difference in price is b best confirmation of price manipulation and auto trading!

We called drop in yesterdays post but we didnt expected this! We thought it may dump only $30-40 or in worst case scenario to reach low daily bollinger band (6410). But one thing was obvious that we were more bearish than bullish after higher low struggled to hold above support!

What now?

For investors, one more great discount on BTC and especially alts!

For traders, still no trade zone! You are now fighting not only agaist other traders, your own emotions but also against auto trading softwares! Once prices on Bitmex and Binance come closer, we may start looking for trading opportunites! The gap of $150 is too much and it is very hard to rely on any trading tool! 

Make sure to read our next post today because we have something very positive to share with you! It was shared few weeks before this drop confirmed that so we have to share again! 

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