As a relative analysis, BTC's growth to complete SEGWIT has launched it upwards towards 3k, which i believe is the result of 3 things.
1) BTC is attracting the market to liquidate their Altcoins and get into BTC to participate in the growth. 2) BTC Appreciation has subsequently caused general disequilibrium due to its fiat appreciation 3) both
BTC is over valued at the moment, while LTC XMR and ETH are undervalued. If these coins do not follow suit, BTC will revert to the mean violently.
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forgot to update. i entered long positions in XMR ETH and LTC at time of posting, slowly averaging out costs as it went down.
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It's become very apparent that there accumulation afoot. XMR ETH and LTC are all still underbought and are ad hearing to a small range. BTC is sticking within a range. Dollar cost average out your long positions and wait until the whales pump btc again, dump, and then let your longs work for you. Good luck!
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trades are still active! XMR is starting to pop towards the sky, ETH entered the trough phase (which means we should start seeing some positive numbers), and LTC is still seeing accumulation.
I hope everyone is having good trades!
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Two possible outcomes: from this obvious pump and dump;
1: MXR ETH and LTC pairs (/BTC) will get pumped, and then dumped into BTC, which will then ROCKET towards 3200, where whales will then proceed to either get into Fiat or back into Pairs
2: BTC will come crashing down due to over all uncertainty for AUG 1st and MXR ETH and LTC will keep appreciating.
If you're using margin, have your finger on the trigger to cancel orders when things start to move the other way.
GOOD LUCK!!
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UPDATE: i've opened multiple longs over the past couple of days to great success. the market is really going sideways right now in an attempt to shakeout anyone with weak hands. My original analysis of the speed of which this move would play out was wrong, instead the market is trying to shake out as many weak hands as possible. Patience and commitment is crucial right now.
Good luck!!
Trade closed: target reached
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XMR closed, PT .0165 reached
LTC is still active, i'm slowly accumulating amongst there between .01625 and .01650
@white_raven, now. Slowly average out your long position so you can manage the risk
n0xTrader
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@JonathanKrier, Now ? It didn't even started bursting after this madness.
JonathanKrier
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@n0xTrader, depends on you base cost, i'm already positive through my accumulation. the trick is being patient and slowly averaging your costs during this accumulation