/biz/ - Business & Finance

btc is approaching massive resistance with an incredibly negative catalyst looming. i never thought that i would turn into one of these bitfinexed conspiracy faggots but lets be honest, this is not looking good. dont listen to these bagholders on reddit and crypto twitter that are telling you that its nothing. you can read the court documents for yourself.

we might pump a bit more to completely test the resistance in the low 6k's or even hover around that level for a while, but make no mistake - even without the bitfinex shit going on behind the scenes, the chart is bearish. we are in for a correction, the only question is how bad. the market is largely ignoring the bitfinex situation right now because btc is going up, so who cares? "B-B-BUT ITS ALL FUD BECAUSE BANKS USE A FRACTIONAL RESERVE SYSTEM TOO" they say. "THE DOJ AND OAG INVESTIGATING AND MAKING ARRESTS IS NOTHING" they say. "IF TETHER COLLAPSES BTC WILL PUMP FROM PEOPLE FLEEING USDT" they say (my personal favorite). but guess what happens when the price starts to correct? price and news run together. bad situations turn worse. shit can go downhill REAL fast.

and yeah yeah i got btfo on my premature short at 4.2k and im a dumbass blah blah blah etc. but lets be real, it looks like things are about to get VERY bad and you fucking know it too.