Bitcoin COT & Data (Week Ending Sep 4)

Data Summary

Commitment of Traders Report

  • Dealers STILL have no Long positions
  • Leveraged Funds grow their Short position
  • Everyone other than Leveraged Funds seemed to looking at $12K breaking
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Bitcoin Hash Rate 7 Day Average

Bitcoin Hash Rate 7 day rolling average continues to consolidate near all time highs.

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Bitcoin Fear & Greed Index

Fear & Greed go absolutely smashed on this last sell off. 40’s was last seen when BTCUSD was trying to break the $9600-9800 area.

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Bitcoin: Consolidation Until Autumn?

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Made 2 bang on calls at the beginning of this pattern with the 1H chart(see article attached below). The pattern has not deviated from course yet. If the pattern holds then price should continue to consolidate with a breakout near Autumn Equinox, which is a HUGE Gann pivot date for Crypto markets. This would be very Bullish.

Disclosure. The author does own BTC.


BitcoinCash: Ranger Danger

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BCH has been ranging but the volume on bigger exchanges is so-so. Why is this happening when so many other markets are in rally mode?

The short answer is internal chaos. There has been a power struggle between company co-founders that seems to not be getting any better.

Bitmain presale operations has said that all June & July orders will not arrive until September or October at the earliest due to internal problems. It seems like the safest trade is buying with strength and buying the breakout from the range in the event that internal struggles break the price floor.

You can check out BitmainDrama here:

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Disclosure. The author owns no BCH or Bitmain debt obligations and has no long or short positions.


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