donmecha

BTC Signals say she could Fall but...

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
From a 1 day chart it looks like BTC either could push through and create ATH or according to the chart RSI and Stochastic's, divergence could indicate a steep fall.

To be honest I'm still undecided on this one as the last couple of weeks the charts have been a bit WHACK and it seems like a lot of people are selling out from Alts back into Bitcoin .

The total market cap has been bouncing from around "$150,841,491,313 to $152,471,127,293" the last few days which in my view there's not a whole lot of new money coming in. If people keep reverting back into BTC from Alts then BTC should go up. Otherwise if people start pushing back into alts then Bitcoin may actually fall. How far will it fall if it does? My bet is just back down to around $4200.

Again this are just signals I'm seeing but I would love to hear other peoples views on this.
Comment:
Looking here it is very close to breaking through but the RSI and Stochastic's are not on its side. This may be a double top again for bitcoin.

Comments

I think until the two hard forks happen (Oct 25th + November ??th), people will be accumulating BTC. Free money for holders.
+4 Reply
FiveOff atomantic
@atomantic, Logical assumption.
Reply
donmecha FiveOff
@FiveOff, so are they giving free bitcoin again this time with the hardforks?
+1 Reply
snakeat3r donmecha
@donmecha, Well, thats how hard forks work.

After the hardforks, i see BTC dip but i doubt it will go below 4400, then its Alt party opening the new moon season (my guess anyway)
+2 Reply
FiveOff snakeat3r
@snakeat3r, I think you are right. The MOMENT BTC shows weakness many will move small percentages to alts. Myself included. XRP looks promising but it is too close to resistance for decent profit loss risk reward.
+1 Reply
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