Welcome to Blockman Capital Analysis. Today we’re returning to Bitcoin on behalf of our clients and we’re looking at the 30 minute chart as we speak. So since the last update what’s the price action been like, well, we’re in general malaise at the moment we saw a real burst higher back on the 25th and 26th of October, we’ll return to that shortly. Then since then, the price action has been relatively negative. Now, if we actually look at this, what actually happened here. The 25th of October, the Chinese president made positive comments regarding blockchain technology. On the back of that, the market had a nice bump up, what then actually happened is a number of short positions on an exchange called Bitmex where they’re leveraged and closed out. Now, when stop loss orders execute on short trades you actually buy the position, you reverse the trade. Well, that means if the volume is relatively light and it was extremely light here you get what’s called slippage, the price jumps dramatically, almost vertically, as we can see here. So if we go back a bit further, what we can see is that by far in a way the majority of the global traders were short of the market, the market had been dropping, the market was running down, and therefore we were short and we had stop loss positions in place. Now, once once you start seeing a bit of a jump, if there is very little volume at these levels, it can push the price up very, very quickly. What does that mean? looks fantastic it looks very dramatic, but you have to be incredibly lucky to have been in on the long side on this trade. We did have some long exposure. What we actually got was closed outs and some of shorts for profits, which was fine. But we did miss the meat of this. And I think it’s fair to say that global traders realistically missed the meat of this because the volume was so low. It indicates that almost no one was actually involved when this price jumped up as it did. And now what we’re seeing is a natural correction back to get down to the level that were up before, which is around about the sort of eight thousand mark. So what’s our stance at the moment? Well, it’s actually a double double side of things at the moment. We’re short of the market. Again, it looks as though we’re going to retest this eight thousand dollar support level. So you want to be short and those are the orders that we’ve executed. What we also have in case this happens again, we have what’s called a stop buy order, and that’s lowering as the price lowers, this stop buy order is also coming down. What a stop by order means is, if the market jumps in a dramatic way as it did here, we won’t execute the trade until it reaches a price point that is higher than the current price, and that’s referred to as a stop buy order. But it does mean that if it reached catapults through, we execute, we’re in, and we take advantage of the lift, but not ignoring the fact that the market is actually in this malaise at the moment and actually drifting down. So what you want to be short because the market is running down, but what you don’t want to do is miss out on what could be a potentially big bounce as well. So we’re trading with discipline. We’re looking after our clients, as we always do. And we’ll keep in touch and let you know what’s going on after the weekend. Thanks very much.