BTCUSD: Maybe still sideways, back to support soonI'm holding my long term positions, I reduced my exposure lately, and will be looking to buy more BTC after this potential move down ends. Looks like we're about to witness a new wave of fundamental chaos, with talks about Bcoin, a new alternative to Core, which apparently some miners are looking to peddle, and which already received some positive talk from the usual suspects. I suppose some if not all miners benefit from maintaining the status quo, so they started falsely supporting protocol changes, which they will never back with hashrate, to avoid Segwit taking their mining efficiency tweaks.
If that's the case, the market will remain sideways until these miners are exposed with sound evidence, or someone releases their hacks to improve mining efficiency covertly for instance.
I'll focus on the long term, and hold my 2-month timeframe positions, but I'm out of daily trades. I did open a margin long in ETHBTC as a hedge, so, that should suffice for now.
I'll update my clients once I think the bottom's in, and after any meaningful change in the analysis. For now, I'll keep my posts here to a minimum. I think I have proved Time at Mode's efficiency in this market sufficiently for now, together with Tim West's prior work on Bitcoin and ETH.
If you have any questions, let me know in the comments section.
Good luck!
Ivan Labrie.
