Bitcoin price has weathered the storm of BCC FUD and the crazy week in crypto overall. It seems that the uncertainty around BCC is clearing up as more people/exchanges are identifying it as another alt. Expecting a short term rise to $2750 where we will grind until after August 1 (when many exchanges resume Bitcoin withdrawals and deposits).
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Downtrend on the hourly here. Looking for a slow down at $2657.
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Looks like bottoming in the 15 min time frame.
Preliminary target to ~$2730. Secondary target ~$2770. Then back to grind.
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Gottem. Also cleaned up my sloppy arrows.
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Scratch that original arrow. Expecting grind around the same level until SegWit activates ~August 8
There is a buy signal there on the larger term time frame. The first thing is to consider what time frame you are trading and what the trend is on the next higher time frame.
Bloobers
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@timwest, Are you referring to the RgExp failure on the daily time frame (MTPC boxes on the chart)? My logic was this: The daily RgExp failure target aligns with the 4 hour uptrend target, which I showed on my chart (~$2750).
Good target! What is your next call? Are you expecting more drop from Alts?
Bloobers
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@Johnsoy, would make sense. Staying out and even selling my most stubborn bags
HondaJr
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Why do you think people buy and hold in this uncertain circumstance?
SBRoberts10
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@HondaJr, Probably for free money when BCC hits. Bitcoin's weathered far worse than this, no reason this should kill it.
HondaJr
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@SBRoberts10, i see. that is nice if we can really get free money.
fineregex
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@HondaJr, both of your accounts are new. this is evil talk trying to fool people. if bitcoin splits there will be fear.
HondaJr
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@fineregex, I think there would be a fear, but it seems to be less than I thought so far. And I don't think there will be fear after Aug.1st because people know the risk of splits, I think. (Although I know anything could happen..)