lewistz

BTC/USD - The Invisible Thread ( B2X)

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I am still holding that a correction is near and we are in a Wave 5 extension of sorts. I think we are being held up by the invisible thread of the upcoming fork and people are holding tight until Fork occurs on Nov 18th. After this I believe normal market conditions can occur. We are literally in a vacuum of sorts with the market being held up with upcoming establishment and distribution of a second blockchain via SegWit2x. I am neutral now as I feel it is very difficult to trade technicals when you have an outside factor such as B2X artifically holding the market up, of course this could change if confusion/fear set in prior to the spit.

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I think this is a really good analysis of the moment. I think the Hidden Hand of FOMO may be tugging on that invisible string, so I'm sure some folks are really going to hit it big staying long, but a great many more are likely to get burned by holding out too long. I'm wondering if price rises too far above the $6350 level, if the resulting correction might not be unnecessarily deep.
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