Bitcoin has so far has been nested above the Ichimoku Cloud on the 4hr. If BTC can stay above the cloud we should remain moderately Bullish. If BTC can sink below the cloud we should see continued selling pressure and a greater opportunity to look for shorting chances.
BTC has been riding some Bullish news lately and we should consider the implications. Yesterday news broke that Circle Internet Financial that is a Goldman Sachs backed company has bought the crypto exchange Poloniex. This is huge news for the way that Bitcoin will trade going forward. For years now Goldman Sachs, JP Morgan, and other big name brokerage firms in the Stock Market have created what are known as 'Dark Pools'. These Dark Pools have allowed financial firms to privately exchange stocks without their prices hitting the actual ticker tape. This allows for price manipulation to occur behind the scenes. In essence, big positions can be taken without tipping off the general public or dump huge amounts of volume since they will reserve the liquidity of their clients holdings to cover their short positions. This is only the start as more exchanges might be set for take-over bids. The effects of this change will be felt in the markets for years to come.
News:
Bitcoin Soars On Circle Buying Poloniex:
BTC - 15min
