Cobe Bitcoin Futures Closing in on $12,000

In the last two weeks the Bitcoin bears have been slaughtered and shredded by the bulls sharp horns. Technically speaking, if Bitcoins are in a true bull market, then it “must” break that magic $20,000 price level again. Why “must” Bitcoins break that $20,000 price level?  Because that’s what bull markets do, and what the EWP teaches us is supposed to happen.

I have drawn 3 conventional trend lines, and which line will get sliced first? At close to $12,000 Bitcoin futures are running into potential resistance created in the 2017 decline.

Anonymous Cryptocurrency Trader Buys $400 Million in Bitcoin | Investopedia

Maybe this Bitcoin price rise is all about the mysterious trader that bought $400 million of Bitcoins when Bitcoins slumped in price. News like that can get all the Crypto fans excited. Bitcoin fever is very infectious, so I had to buy a bunch of fake Bitcoins to touch and hold. I ordered them in from China and show them to people. The reaction on peoples faces when they see the coin is priceless!

I showed the coins to my friends and they all wanted 1 or 2 right away. Anyways, I will be getting more Bitcoin collector rounds. I fully understand that any physical Bitcoins we may see are fakes, but they sure can become great collectors items. The Bitcoins I have contain one Troy ounce of pure copper, (99.99%) plated with a thin layer of gold. How much gold plating that are on these coins is unknown, and they may need to get x-rayed to find out.

Ethereum chief warns cryptocurrencies could ‘drop to near-zero at any time’ – MarketWatch

Any of these Cryptos can go to zero, so a physical fake Bitcoin will look nice up on your wall. The Crypto universe is still growing with about 1548 ICO’s on the list.  So far the total capitalization of the Cryptos peaked at about $512 billion this morning, which was the highest in all of February.

The Gold/Bitcoin ratio is at 8.63:1 this morning from a peak of over 15:1.

The commercials have not opened a single position long or short since Bitcoin futures started to trade. This tells me there is no interest from the commercial trader’s perspective.  Only the trend chasers are chasing Bitcoins down with their net short positions.

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