The terms Bitfinex published for the upcoming B2X fork, may have started a chain reaction that is putting pressure in all coins that are paired against
BTC, as people borrowing
BTC, will also owe
B2X tokens after the Nov. Fork. Pair this with a lack of liquidity in
BTC from people withdrawing to receive the Bitcoin gold airdrop, and you have an explosive catalyst for a short squeeze in everything against $BTC. If I'm right, 
ETHBTC -and everything */BTC- will melt down, and
BTCUSD could reach heights between 6300 and 9700 quickly, leading to an spectacular blow off top by Nov. 18th, as people return to exchanges to drop thier B2X and chaos breaks loose, with not 1, but 3 BTC forks in existence competing for the top dog spot.
Miners will be severely divided by then, and I think the outcome could have disastrous consequences in the short and intermediate term, but, after the bear market ends, we might resume the uptrends in these instruments. Best of luck if shorting here, keep a tight stop and let it cruise. At least, swap alts for
BTC and wait for
BTC top if long crypto.
Cheers,
Ivan Labrie.
Miners will be severely divided by then, and I think the outcome could have disastrous consequences in the short and intermediate term, but, after the bear market ends, we might resume the uptrends in these instruments. Best of luck if shorting here, keep a tight stop and let it cruise. At least, swap alts for
Cheers,
Ivan Labrie.
Note
This is shaping up like the previous fork, post DAO debacle in Note
The uptrend in the ratio vs BTC runs out of time in the monthly this month...this is an ominous signal, paired with the weekly breakout. I aim for the 0.0151 zone.Note
If the trend is down this level shouldn't hold:s3.amazonaws.com/tradingview/snapshots/i/i1HG5Fpp.png
Note
ETHBTC might have bottomed today, I covered my shorts in profit and went long ETHUSD with margin (my spot holdings are still in BTC).Trade closed manually
Note
Watching...holding ethusd margin longs only, but interesting to see where Note
Back to this scenario...I'm flat Note
It seems like going long Trade closed manually
Since we hit target #1 it could bottom here, I'm wathching, to see how fundamentals evolve here. I don't yet reccomend buying but also don't reccomend shorting anymore.Disclaimer
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.