This is something I've been watching for a week or so now
Not sure if it will play out 1:1, but the major pattern is in place. Something to watch if we don't get a higher high in the next few days imo
ETHUSD looks like similar shit with a bear flag forming, price target ~230
Although it could be in a sloping flag on the 4H, also is showing bullish divergence.
Stopped counting the "tether implosion" incidents. Won't hold my breath that this is the real one this time.
The sudden seizure/closing of Bitfinex would probably at least be necessary for that.
Well, this is the first time NYAG is suing their asses as they demand documentation for their trading in New York, which we know has happened because of emails uncovered showing they have been "loaning" Tether to people to trade with. Which in-itself could indicate that they print Tether as a loan, allow people to trade with it and then get paid back after the fact.
Which means, again, that Tether is being printed with no money, to buy BTC and then sell into real money to "cover" the Tether print.