While doing continually deflates altcoins which are in front of an uptrend bearing on mind that "alts" lost more than Bitcoin it self /as always.
Now, judging by all parameters, having on mind that most of traders doesn't even have a clue where this Bitcoin goes and how far it can go and so on.
It's not about them, it's about people following them as burning with them (with presumption they fail).
Anyways, when talking about BTC and solely non bias technical and , i ll tell you right now that GPU mining doesn't pay off along with S9 miners (BTC/BCH mining) (as far as i am informed), but my specialty is trading, not mining to be honest, therefore i could not comment.
Having on mind exact position of entire market which is BTC DEPENDABLE (if Btc goes down, everything goes down and vice versa).
My suggest for all traders is not to gamble via leverages on exchanges, but to take an altcoins which is big time undepriced and reacts good with Bitcoin future price action which will manifest as on graph.
Bitcoin future price ranges would be :
* Attempt to breach 3580 and reach again 3650 in order to make again previous high.
*Retrace from 3650 to 3560 (aprox.) in order to " confirm" new support on 3580 as "piercing it"
*Uptrend towards 3730
*Attempt to 3850-3900
*Confirmation of 3800
*Attempt to breach 4000 and probably succeeding in it while making new high in form 4250
*Correction back to 4000 to confirm new
*Attempt to reach 4400-4450 as rebouncing from 4000 (pierced) as acting as support
*FAIL OF BTC towards previous low (AT LEAST).
With all that said, i would recommend everyone to cashout positions on every alt or btc when Bitcoin price reached 4450 (which should be mathematicaly justified peak) and retrace right after while making LH and keep colliding further.
BTC is weekly oversold,
Position of every altcoin checked confirms further Bitcoin uptrend.
Dont buy on resistances (3580 3650 3730 3850 4000).
Always rebuy on declinations bigger than 40% of previous gain.
Good luck to everyone guys.
I don't know whos playing but there is a lots **** money watching that game.
- Total Market Bitcoin (BTC) Longs vs Shorts
LONGS: $301,770,192 48.24%
SHORTS: $323,749,698 51.76%
Basically, 7.5% in favor of shorts.
They will be the one to be liquidated first by exchanges.
Then wiping longs in opposite manner and so on.
Overall view is optimistic, i'm long on B to 4450.
What's ahead is actually BIG bulltrap in a form of 4450 which will form gradually as forming 1 3 5 impulse gains which are presented ona graph along with 2 and 4 correction points.
Points of ABC correction which follows "MINI Elliot" are actually strong bullish attempts of Bitcoin since "MINI Elliot" follows price action to 3880.
Then, upon making 3950 aproximately as being close to 4000 resistance, will have slighter declination back to 3800 and actually try to make 4250, then correction point as 4000 confirmation and finally one more attempt to make higher high as trying to breach 4450 and goind down.
I am expecting further push up which would result breaching of 3650.
Long from here on BTC.
Happy trading guys and good luck.
Now, after retest of lows i do expect retest of highs and gradual uptrend towards 4000 level and with few more retest potentially surpassing it as making attempt towards second top.
Altcoins are in very good position and this could be lowest price you can get them as being on bottom, underpriced and mostly oversold.
It was site problem mate.
It's solved now.
Thanks for feedback.
You are welcome.
Happy to help and be here with you guys.
Happy earnings mate.
Sure, but this is 2-3 weeks timeframe.
What's your take mate?
Thank you TauCeti :))
Slightly lower than 5000 my friend.
I would say 4450 would be the peak.
What's your take?
Thank you for your feedback.