How does the new quarterly okcoin futures affect BTC price?
From the charts, we can see that there's no strong correlation between a new quarterly futures with the btc spot price.
The term "Whales won't let you have cheap prices", is only true if the trend is up.
Whales can also short.
What matters most is the price trend and price action.
New quarterly futures contract doesn't dictate that it's going up or down.
My Expectation : Sideways to dump. Possible turtle soup setup. But ultimately down in short term.
Will reevaluate this again on Sunday (18/9/2016)
The term "Whales won't let you have cheap prices", is only true if the trend is up.
Whales can also short.
What matters most is the price trend and price action.
New quarterly futures contract doesn't dictate that it's going up or down.
My Expectation : Sideways to dump. Possible turtle soup setup. But ultimately down in short term.
Will reevaluate this again on Sunday (18/9/2016)