I'm out of my trade on this bounce above the swing high and break of offers around $47.5k, for anybody interested. I added to my short around $46k but we didn't even test the $44k bids so I didn't get chance to take more profits. Still, my early covering @ $50k the day before means my overall R:R on the trade is a healthy 4X.
If you are going to post on ET every chance you get that you THINK Tethers are getting printed to buy BTC, then I am going to keep asking you to PROVE it. Which you have already admitted you can't prove it: https://www.elitetrader.com/et/posts/5331603
it is all in the open. Looks at some screen shots posted on this thread alone. You can clearly see that 80% of Bitcoin trading is done in tethers as reported by exchanges. BitFinex keeps tight lips of what backs tethers and did fire their auditors the only time it hired them, this is another proven fact. they also retracted the original claim that USDT is backed by USD 1:1 in their coffers, another fact. the above 3 facts is all one needs to come to a conclusion that it is highly probable that Tethers are backed by nothing. Do I know this with 100 percent certainty, of course not. but as we know the only certain things in life are death and taxes.
You did not listen to the youtube video I sent you on an earlier post? Here, I start it at the section that's relevant to your delusion. Please listen for 10 minutes from this point https://www.cato.org/sites/cato.org...ith-vs-Bad_Faith-Arguments_or_Discussions.pdf
RedDuke, you said you listened to the video. This post of yours is Layer 1 and Layer 2 arguments. Please do not cross to Layer 3
From the Cato Institute: https://www.cato.org/sites/cato.org...ith-vs-Bad_Faith-Arguments_or_Discussions.pdf From Google: