Patterns repeat, we can learn from history, everything is connected and there is a reason for everything even though in most cases those reasons enlighten us post events unfolding, which is a source of great frustration. So it is with great trepidation that I re-visited this chart.
I stand firm that the BTC drop is not complete, I expect to see it south of 10k and will go as far to say that the chart and trends tell me that we will get a chance to trade BTC for ~$8600 a the end of January. I have seen a lot of charts lately, trends repeated and parabolic patterns timed to perfection pre-Christmas. Focussing on BTC's negatively correlated coins most notably BCC/DASH/XRP, I can see another pattern repeated, trends pointing to an event at the end of Jan (29/30), most these coins are sideways or cautiously bullish I see a pop coming.
I don't like XRP but the community tends to sit back and listen when it moves and bugger can it move. BCC (BCH if you prefer) is another I'm not convinced of but I have to say I love DASH. I think this is the model currency of the future and is my instrument of choice as my hedge against BTC, I will play this forwards, backwards and upside-down the BTC/DASH pair dance the most elegant waltz and I don't see it ending anytime soon, in fact dash looks set-up to do some damage against BTC which is why I maintain my POV on BTC's downtrend.
I am a big bull and hate to see BTC suffer but ultimately I feel this as a good thing for the health of the cryptoverse and its dedicated community.
I am long in BTC but have also collected quite a few altcoins over the past 6 months and will be actively managing my portfolio over the next few weeks to swing in and out accumulating sitoshi's where possible.
Trade carefully guys I see a change in the winds but I am very unsure which way it blows, my portfolio is set-up to take advantage in both scenarios and I am very liquid in the hope of adding to my BTC longs.
2018 will see BTC hit 35k I'm certain and I half expect 60k before the year is finished, whether it gets there from $13500 or $8500 is anyone's guess, the above is mine and the future looks like its here to stay.
History tells us everything we need to know....... We have seen this pattern many times before, have I called the bottom maybe not but I did manoeuvre my portfolio in anticipation of this continued down trend, otherwise what's the point the in history if we are not willing to learn from it.
Further decline in price is not in line with previous corrections, but this has not been a normal correction, much manipulation has taken place but human emotions remain constant. I am now bullish and confident that the uptrend will resume within the next few days/weeks. The "flippening" could force BTC lower but lower than 7k is not something that is healthy especially for the smaller investor so trade carefully the next few weeks will give us the trend to follow and hopefully its is a resumption of upward motion.
Stay focussed on money, don't give it back, hold out if you need to, the sky is not falling, the crypto bubble is far from being burst, we will rise again and opportunities to make more gains or reclaim trade loses will materialise.
2018 is the year of acceptance and implementation of Blockchain.
Further decline in price is not in line with previous corrections, but this has not been a normal correction, much manipulation has taken place but human emotions remain constant. I am now bullish and confident that the uptrend will resume within the next few days/weeks. The "flippening" could force BTC lower but lower than 7k is not something that is healthy especially for the smaller investor so trade carefully the next few weeks will give us the trend to follow and hopefully its is a resumption of upward motion.
Stay focussed on money, don't give it back, hold out if you need to, the sky is not falling, the crypto bubble is far from being burst, we will rise again and opportunities to make more gains or reclaim trade loses will materialise.
2018 is the year of acceptance and implementation of Blockchain.