Reversal and into consolidation until SEGWIT2x / UASF Confirmed
It seems my previous wave count here:
has been invalidated on the Intermediate period, with panic and indecision increasing within the market, thanks mostly to amateur traders, which amongst other things, have manipulated the market price of BTC with panic, to drop lower and begin a consolidation (sideways movement) until the 1st August when the SEGWIT2x / UASF upgrades have been completed, tested and confirmed working, without a fork/split in BTC.
In my opinion, we should see continued sell off of bitcoin until reaching at least the yellow trendline where price action will most likely consolidate sideways until the 1st August. Once the upgrade has been completed, we should see an incredibly strong push upwards as more and more global support behind Bitcoin. Additionally, in trading, especially when market makers/movers are manipulating the price, we can see a type of 'Safety Trade' where many amateur traders will either be stopped out or sell all coins, only to miss out on a massive move upwards.
All the doom and gloom that has been noted by many in the market, has only fueled speculative selling off of bitcoin and many are about to lose opportunities due to inexperience and emotional trading, rather than being patient whilst the market corrects.
Here is a great piece of news regarding bitcoin and one of the reasons why I believe bitcoin is a solid bet for the future, as you don't get organisations such as Wall Street or Merrill Lynch getting behind a dud, that is for certain: cointelegraph.com/ne...to-global-legitimacy
I'm holding my coins long-term as I know, even if the price action goes below my analysis, it will eventually come back up and surpass, only giving me more opportunities to buy more on the lows for even greater profit.
Here is more information about BTC upgrade:
Here: 99bitcoins.com/bitco...ed-explained-simply/
and
Here: 99bitcoins.com/segwi...at-you-need-to-know/
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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In my opinion, we should see continued sell off of bitcoin until reaching at least the yellow trendline where price action will most likely consolidate sideways until the 1st August. Once the upgrade has been completed, we should see an incredibly strong push upwards as more and more global support behind Bitcoin. Additionally, in trading, especially when market makers/movers are manipulating the price, we can see a type of 'Safety Trade' where many amateur traders will either be stopped out or sell all coins, only to miss out on a massive move upwards.
All the doom and gloom that has been noted by many in the market, has only fueled speculative selling off of bitcoin and many are about to lose opportunities due to inexperience and emotional trading, rather than being patient whilst the market corrects.
Here is a great piece of news regarding bitcoin and one of the reasons why I believe bitcoin is a solid bet for the future, as you don't get organisations such as Wall Street or Merrill Lynch getting behind a dud, that is for certain: cointelegraph.com/ne...to-global-legitimacy
I'm holding my coins long-term as I know, even if the price action goes below my analysis, it will eventually come back up and surpass, only giving me more opportunities to buy more on the lows for even greater profit.
Here is more information about BTC upgrade:
Here: 99bitcoins.com/bitco...ed-explained-simply/
and
Here: 99bitcoins.com/segwi...at-you-need-to-know/
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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Comment:
LedgerX Completes CFTC Process, Approved for Bitcoin Options
cointelegraph.com/ne...-for-bitcoin-options
cointelegraph.com/ne...-for-bitcoin-options
www.zerohedge.com/ne...itcoin-surpasses-gld