In my chart of 21 July I described the segwit steps. The prediction was exactly right (first trendline). Now the segwit goes on. Here is the new chart. All other movements I have considered.
Let's see what happens. Happy trading. :-)
As segwit 2x comes closer uncertainty in the market seems to be increasing.
Litecoin and XRP are the two fastest mediums back to fiat
From experience I usually purchase one of these; including Ethereum in order to transfer my funds in and out of the market.
Now this is just an observation, but judging from the recent spike in ETH, XRP and LTC just days before...
But not today.
According to my calculations, the last bitcoin will be produced in about 2023. By the time judging by the cyclical movement of the currency, the level of 7000 is quite possible! At the moment, the time of correction in the area of 500
If you look at Google Trends, you can see that bitcoin is popular in countries such as Bolivia and Nigeria. Also, you can see a decline in interest, which coincides with the divergence of price and volume.
With the growing excitement for the coming Segwit I think that we are going to see a lot of volatility until it locks in. After the lock in I believe there will be strong FOMO from the non Bitcoin community. What are your opinions?
This is really bullish scenario and while 5k BTC in august may sound crazy for some of you, I just used trendlines here and compared the situation with segwit activation on litecoin. You can choose lower targets, but the idea and the dates are the same. People are telling me this information is already priced in, but exact same situation on LTC shows...
Tomorrow's the big day.
If you want to know what fear and confusion looks like in the market here's a perfect example. Nobody is sure what's going to happen tomorrow. At the same time, this chart doesn't look any different from any other chart, because they all represent the same human variables.
I'll be watching the daily candle today for insight into...
Normally, I would long this, but there's so much bouncing right now, especially on bitfinex since they are supporting bitcoin cash(BCH). If you compare prices at stamp or anywhere else, we're taking a bit longer to notice actual movement due to people hedging on shorts for there BCH come July 1.
Best case, we bounce around this area and maybe uptick to 2700.
On the run up to $2900 a couple weeks ago, a lot of volume went into the market to develop firm support. A breakdown of this support level could prove to be quite destructive to the BTC-USD market in the short term.
Handle may be currently forming. However, it is rather deep down for it to be a textbook handle. Therefore, I think a smaller cup may be forming, approaching the test of the resistance trendline between 720-800k, followed by the forming of the handle before *finally* seeing a breakout.
Very simple, noone seems to want to pay for above 2.9k Bitcoin, 3k keeps getting rejected.
This is a low risk high reward trade, keep stop around ATH if it breaks with volume.
I will be keeping an eye on fundamentals since this can change the whole picture, but I believe we'll see prices of at least $2000 before we can attempt to crush 3k.