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Bubble

Are you a HODLER? Hype turn into fear in the blink of an eye!One second you think you've made a great investment, the next fear kicks in. How long do we go down before you get scared? This is a continuation on my bubble idea earlier, where I shorted at 9700. Fundamentals I have already expressed my thoughts on fundamentals in my earlier idea, please check it out if that's of interest. Yesterday we had a big drop in the crypto market. Alts went down harder than BTC. That tells me there is a lot of doubt in the market right now and there may be some major crashes ahead. Technical Previous chart was basically just the standard bubble theory added on the top of the Bitcoin chart. This time I am going deeper into the technicals, looking at how this could play out and what I want do to. I believe the top is in. Major selling, exchanges crashing and altcoin market taking a big hit. We would need A LOT of fresh money to keep this going up, and I don't think its coming in 2017. Now that could of cours happen but we are in a historical pump and betting on the continuation of this pump has major risk attached. If you are new to the space, I'm sorry to say, but you are way to late. I am looking at an impulse wave with a real strong fifth wave, but that's crypto for you, the tops can be irrational. That's why I ended up shorting to early, I believed at the time that the wave had gone up more than enough. Now I think we can see an ABC correction with the launch of futures playing a role. You may be looking at my targets and thinking hell no. It wont go down so quick, we have used a year on this uptrend! It may not, but I promise you it's not unrealistic. We have had a year of new people jumping in each day, and slowly we have gone up and up and up. But when things start to go down, all those people now hold BTC and watch the price. That's the reason markets like this takes long time to build up, and just a few days to crash. When doubt starts to kick in, there is a hoard of holders that bought on the way up, and comperativly few new people entering the space. Now of cours there will be a lot of profits flowing around in the space, but is it realistic to think those profits will support the price? No. Those profits are now profits for a reason and it wont enter before there's a fire sale. So how low do we go, where can we expect support? Its usual for the correction from wave 5 to go down somewhere between the 3 and 4th. That's 4970 & 3490. I am looking to close my short at 5035 USD, and rather add some longs if it goes down to the area between 3 & 4th wave. We aint getting there tomorrow though, so it's also important to look above and see where we can expect a bounce. By looking at the fibs I can see heavy support in the 6000 area. That's also where we stopped last time. That's where the A could stop and we get a bounce before futures launch to get the B! When the futures eventually start trading, shorting kicks in and we can complete the corrective wave and get the C. Experienced Tip! You may have noticed yesterday that selling can be difficult under high activity. Now imagine if bad news come out, the crash would be over before you could do anything. That's why I didnt want to wait for any confirmation before I shorted. It may be impossible when it first happens ;)
BITFINEX:BTCUSDShort
by Kryptokelly
51
BTC Bubble burst ?I have alot of people asking me right now , if Bitcoin is a bubble and if this might be the beginning of the end ? Honestly , if you look at the history of bitcoin ! you see how many times people assumed that it will soon be over ! -mt gox -short crypto winter late this summer -china ban -JP Morgan fraud -"bch will take btc over" On all these ocassions i have had my doubts ! But now . No , i am almost sure that this is just a healthy correction ! It has been going up for weeks without even a small correction and was almost going parabolic xD it couldnt go higher , you can see the red arrow i drew ! Now trade safely , and most importantly , leave emotions out of the game. Wait for bottom, and buy back (see the support zone) Here's a funny website , that will make you cheer up a little bit , if you have been sad about "bitcoins recent death" ! 99bitcoins.com *keep in mind , that this is not financial advice ! Trade at your own risk !
BITSTAMP:BTCUSD
by Sofsayen
When will begin recession? Here you will knowThis is the first time of history where economy will be absolutely tokenizated, that is, the token market capitalizacion will be equivalent to the world GDP . Of course, this is not going to happen from one hour to another, but it is not far away either - blockchain is going to give the monetary system a 180 degree turn. The collapse of the international banking system and the hyperinflation of fiat currencies will make billionaires early blockchain investors and very, very poor to the ones that say "Bitcoin is a Bubble". Sorry for the radicalism, but I only try to advise people who still do not believe in blockchain, that if they see that red line, that will be the result of their thinking. Love to all. I hope you have a beautiful investment day. Greetings, gents.
TVC:IXICShort
by intcommfund
1
This time it's different. No, it's a glorious bubble!You can feel it in the air! The delusion is magnificent, the hope is higher than ever. Nothing can go wrong right? It cant crash, BTC will take over the world! It's a new paradigm! Only upwards from here, we have exceeded all expectations and the chart screams UP UP and UP!! If you don't want to lose your shirt, this is the time to stay calm. This is where you need to be cynical and shut everything out. Maybe take 30 minutes and just stare at the chart. This time it aint different, and it never will be. Fundamental Bitcoin has jumped higher then I expected! Probably higher then you expected as well. It's been a crazy year and we who have been here since the last bubble are all rich now. The amount of new people entering is astonishing! Dumb money is being poured into the crypto space, and the majority of it is entering Bitcoin in this historical bubble. Why do I call it dumb money? Because it's money that is entering on hype and FOMO. Money that didnt buy when the media phase started, and certantly not when Bitcoin was in the shadows. It's money that has been to afraid to enter the market because it didnt believe in the tech. But now that it hears "everybody" else is making big bucks on Bitcoin it wants in. Is it money that is intented to be used on the underlying asset? No. It's pure speculation and greed. It's money that dont have an exit strategy, it just wants to be included. A reciepe for disaster. Let's take a look at the fundamentals and ask ourself, what is the difference now from 1 year ago? We have more people using BTC, obviously, but it's mostly used on speculation. Now we don't have 1 Bitcoin anymore, we have 4 with huge marketcaps. The scaling saga is maybe more positive now then it was 1 year ago, but it's a big maybe. Lightning network is a very promising project and I have big faith in it, however, at this stage it is barely a working product. Big blocks was a solution for today, but far from sustainable, and fundamentally it has done BIG damage to Bitcoin Core. Is the ordinary financial world collapsing? Do you have problems paying for a loaf of bread with dollars (or have to grossly overpay)? The world may be in terrible shape, but currently, the economic shape is fantastic! If this reality changes, we have a different picture, but until then Bitcoin aint worth 10 grand! I rather take the fiat for now, MUCH easier to spend ;) And oh.. We have futures launch, which is a big driver for the hype we are seeing. Insititutional money will enter the Bitcoin market. But is it really a positive? First of, its more likely then not that it has already entered and a big possibility that the money coming in will be used to make Bitcoin go down, not up. On the other hand, its not even a guarantee that the futures will launch. And for the first time I have reached the maximum amount of charachters so you need to research that yourself :) Technical We have a classic bubble going on, and I believe we are in the final stage! I can just feel it in my bones. Gravity left for vacation, but a vacation dont last forever, and when vacation is over, harder times are ahead. So is this the top? I have no idea. It could very well go above 10k, it could go 11.5k, but if it goes above 12-13k I have made a mistake and need to take the consequences. Because I am shorting here at 9700 USD. I am hodling that position all the way up to 12k if that's what it takes. It's just a too good number to pass up this trade right now. Earlier today at 9490 USD I sold every bit of Bitcoin I had left. I am now 50% alts and 50% cash. Looking to reinvest in Bitcoin in the 3-5k-5k area, and possibly hold short until 5100 USD! I have been wrong on Bitcoin TA already through this bubble, but to be fair, so has a big majority of traders in this space. Bitcoin have just shattered rules and destroyed rational predictions. Numbers Short - 9700 USD Buy - 5100 USD Stop Loss - 12k-13k range
BITFINEX:BTCUSDShort
by Kryptokelly
166
Parabolic chart - bubble popping soon?First off this idea is completely hypothetical and BTC always surprises me so please don't trade off this "idea". What I see a is a drop to between 7000-7100, then a rise up roughly equal to the pole of the a potential bull flag formation. This would put it roughly around the 9000-9050 area. This would also put it right at the parabolic line and potentially prick the bubble. Any movement to the right of the parabolic line would mean the bubble has popped. That's assuming the parabolic line is valid of course. If it pops, we could see it drop quickly all the way to -1.618 level or lower. This would have BTC hitting less than half the all time high pre-pop. This is just an idea put together through fib levels, unformed trend-lines and chart patterns so by no means is it bound to happen but I thought I'd go bold with this chart. Thanks for checking my idea out. Good luck and happy trading.
COINBASE:BTCUSD
by WinTradesBeHappy
5
Bitcoin; bubbles end while everyone still dreams of much bigger.The fact that it sounds crazy to short sell a bitcoin at 8000$ after it rose more than 50% in value over a matter of days; tells it all. I am currently shorting bitcoin at 8000 as it established a support level for the first time days. The latter shows me that Bitcoin's MM is not willing to push beyond 8000 USD, and will likely chop around these levels for the time being. The previous ATH flash might have been upthrust, or testing buying strength. As CME is about to join the party within days, and as Bitfinex is shamelessly printing USDT by the minute; it looks like some of our current market makers are exiting as we speak. Could it burst through 8000? Sure, there are plenty of shorts hoping for another flash crash down. Question is if it would be worth the effort to enter untested grounds, the current levels could easily provide short and FOMO panic for days on end; resulting in a controlled distribution phase. As you may see, BTC hasn't ones tested a previous resistance level to establish healthy support bases as of the 13th of November. Why? The answer undoubtedly cannot be found with technical analysis as even Wyckoff does not seem to provide the correct answers. So what is happening? Bitcoin is, no matter how genius the underlying technology, a pathetic example of human fear and greed in the form of nothing more than pump and dump. One can summon as many magic waves as he likes. However, it will never fully explain what the heck just happened. Usually, it comes down to one of three things. Namely, 1. luck, 2. coincidence; or 3. You read a chart different than the MM wanted you to. - '' But.. Btc has value!!'' As a friend of mine likes to put it: define value in 3 words, or else your words mean nothing to me. - '' No! BTC has a huge market cap, BCH is the real penny stock!'' Compare my chart with BCH's entire third wave, and you will see where Roger learned his ways. So, what happened to your shorts? Why couldn't you take profit and buy back in lower after FOMO and uncoordinated buyers market bought your asks when risk-reward just turned to the shitters? Well, you were not given a chance, at all. No, the market is indeed not kind, the majority loses and secure bids where everyone loads up do not exist, but that is precisely my point. Bitcoin awkwardly seems to reward those who randomly press buy and hold more than traders and scalpers; well, until it doesn't. BTC's current pump evolved by the following means: 1. Wash trading, namely on GDAX. GDAX provides an interactive interface, and it vibes through the market much like the multiplier effect. 2. Chart painting, namely on GDAX. Take a look at how the bots have become smarter and how they literary engineer hammers on top of the EMAS. Gdax is no battle; it's a massive theatre without margin selling. 3. USDT, namely on Bitfinex. Bitfinex and Tether are the same, and they print tether right before pumps. At 5600 140 million Tethers were published of which 130 went to one single address. Careful with trading on Bitfinex, do not issue large volume withdrawal request, purchase ETH and move it instead. Perhaps, twitter.com take a look at this page. 4. Last but not least, trapping short sellers and profit takers by buying up all dips in between support levels, making re-entry or closing unprofitable due to transaction fees. Traders will either rebuy the top or await a possible rejection as covering would be the same as buying the top. In case it does break out, there will likely be another retracement to cover with better risk/reward. Next thing you know you are adding shorts at new resistance levels too. -- This all leads to a neverending margin position fueled with sunken cost and a this can't be the real mentality; most eventually end up liquidating or covering straight into Bitfinex's personal sell walls. Place stops and take care. In not so long from now, bears that still managed to be profitable so far, will RaaaawR all over crypto space.
COINBASE:BTCUSDShort
by RichiRichi
10
BTC: A Tug of War between FOMO or FUDTaking a step back sometimes is helpful to make sure that you are anticipating the crowd instead of become a part of it. BTC is holding the $7000 level SURPRISINGLY well and at this point it almost feels as though all TA is out the window. I keep asking myself is it on wave 3 or wave 5? Is BTC finding its top or getting ready to blast off? My guess is most traders out there (like me) are caught between FOMO and FUD and so I am sitting out of this one. I rode the bubble for a while but I'm opting to take the week off and remain for a return to sanity or just mean regression... whichever comes first. Here's a short term somewhat neutral and forecast based on the FOMO, FUD, and upcoming Fork. Play at your own risk...
BITMEX:BTCUSD.P
by myceliium
1
Top reached, run for those alternatives!Don't get trapped, be smart. In the latest days I have seen so many switching their views on Bitcoins direction. "A new entity has taken over" I read from some trader for example. Bitcoin is a market that behaves after supply and demand like the rest. I will be shocked if we see more demand than supply over the next 10 days. Fundamental With big news such as the CME announcment and the upcoming "free coins" on fork date, I see many have this mindset that this time its different. It never is. This does seem like a perfect place to buy, breaking 7600 high and you get two coins in 8 days! That's why I am selling, it is the definitly the smart thing to do. We are in a bubble and when there is a contagious hard fork coming up, you aint gonna get "free" money on the fork. Those coins combined will be worth less then now. And god forbid 2X puts up a real fight, it can get ugly fast. However, shorting BTC is not the best play you can do before fork. Going long on alternative coins, with margin, against BTC, is the best you can do. In the upcoming days I will be putting out some ideas and explain why. Technical We are in the 5th wave, and while it's always possible to go higher, I believe it will end soon. In case it's not, I am having stops above 8200 USD. First target I am looking for is the 0.618 FIB, which is around 5200 USD. That should be reached easy. Second target is between the 0.5 & 0.382. With an eye out for the trendline which will be around 4200 USD. But it could go as low as 3500 USD, depending on how the fork goes and how much panic we will encounter. Numbers Short: 7800 Close Short: 5200 Buy: 3600
BITFINEX:BTCUSDShort
by Kryptokelly
5
"BITCOIN IS NOT A BUBBLE!" - Well, I'm not so sure about that...First off all, I'd like to state that I am not at all hating cryptos or denying the potential of the blockchain. But in my personal opinion, what happens to Bitcoin right now is nothing else than ridiculous. The more I am reading about "Financial Bubbles", the more I have to draw the conclusion that Bitcoin may very well be exactly that. So, before everybody starts stoning me and declaring me "an idiot who doesn't understand anything about bitcoin" (Which already happened more than once and, by the way, is one of the classic signs of a bubble. More about that later), please consider the following: First: Simply take a look at this classic bubble pattern and tell me honestly that the bitcoin chart above does look nothing like that: www.marketoracle.co.uk Under the premise that we really are in a bubble, then we defnitly would be in the public phase, most likely in greed or even delusion. Furthermore: Today I was doing some research on the classic signs of a bubble on fundamental basis and stumbled about this article: www.businessinsider.de Well, we got 4 points to check here, so let's get started. 1) It may be my personal environment but at the moment it's not possible for me to go for a drink with friends or coworkers without Bitcoin beeing the subject of the whole table sooner or later. Even though nobody is involved yet or has any idea what the word "Blockchain" even means. Nevertheless most of them think about throwing a few thousand bucks in there. 2) Although I don't know anyone who really quit his job yet, I sure see a lot of people writing about quitting or "getting out the system". (Many are going full conspiracist out there. Another thing I don't get.) 3) Sounds familiar? This is what I already mentioned above. As I've been reading discussions on Facebook, Reddit or other "social" networks, I noticed two phenomenons: a) I've someone critiques Bitcoin, about 90% of the people just laugh at him/her or make fun of his/her (often eligable) doubts. People seem to forget that Bitcoin is still a high risk investment and not their ticket to a beach house on Hawaai. b) Good news (like the Amazon rumors lately) are accepted without further questions, while any bad news or critic is "fake" or "propaganda" against Bitcoin started by the evil and stupid bankers from Wall Street who just don't have any clue and are simply afraid of BTC. 4) Oh hell, yes. At this point, I'm not going to do anything more than to quote John McAffee: "Bitcoin will reach 500,000$ in 3 years." To reach that price, Bitcoin would need the same market cap as the US$. Doesn't sound that likely to me. Another interesting article: www.investopedia.com So, this is just my opinion on Bitcoin at the moment. Feel free to let me know your thoughts about this topic. Maybe I'm wrong and everything is just my very personal environment creating this impression. By the way, I sure as hell won't short Bitcoin, as I have no idea at which time the bubble will burst if there is one. To some part I'm actually hoping that I am wrong because if there is a bubble, it inevitebly will burst and crush the whole life of many people who are fully invested at this point. P.S.: Some weeks ago, one of the genius traders around here, DianKemala, posted a similar article and it may be more relevant now. I added the idea as it may be even more accurate at this point.
BITSTAMP:BTCUSD
by HFBN
46
Artificial demand to slow down dump of bubbleProbably everybody remembers the Bitcoin Cash fork event, as a result of which the owners of Bitcoin got "free" coins and the amount of the account eq. balance has increased that pleased the eyes. Let's try to think about the nature of this phenomenon: a new coin with a very large capitalization appeared (according resources like Coinmarketcap), but the new money did not come to the cryptocurrency. However, this balance becomes real after someone buys Bitcoin Cash from you, as a result of the first local schemes of the category of market-manipulation pump> dump> pump> large dump> megapump > dump > and pump again; so BCH began to get real capitalization. .. Recently, BTG also appeared - BitcoinGold (we are also waiting for the silver, platinum, uranium) and what one well-known very large exchange made: for those who had BTC, it gives them BTG, it is OK - if you have BTC on your wallet, use the private key and get your coins. But there is a nuance - people who gave their BTC on % for landing will also receive BTG. You will ask "How?". Guys who take these BTC for SHORT will owe them and buy it. So, if you took BTC for the short, you have to return BTG, because exchange wants it.. And where do you get it from? That's right: you'll buy it by spending your money, it is artificial demand. The operation of BTG bonus essentially happens TWICE. Let's make additional forks, pump them, and let SHORT-guys buy it...Profit! By the way, if you downloaded the source code for GitHub and compile the BTG-client, it does not connect to anything and there was a remark somewhere "Your own client will NOT WORK for both testnet and mainnet." Decentralized cryptocurrencies without open source (or fake code). What is it for? To the scam and the manipulation of the market ... All these reflections lead to the question of what is the capitalization of REAL capitalization cryptocurrencies?!?! I'm not saying that right now everything will fly down. We'll go out and then breathe in with renewed power ...
B
by KostiaMinin
Bitcoin - Maybe This Time, Don't Buy the DipThe Bitcoin Core chain stands at the end of time. Why does it stand at the end of time? There is a lot of politics around this issue, and I don't care to argue about them. You do your own research. Where you put your money is your business. In the end, whether Core remains the champion, or Core dies as Bitcoin Cash or Segwit2x become the incumbent, where you put your money is your business. I recommend both hedging and investing in Bitcoin Cash. You can say what you want about that recommendation. Posterity will evidence the truth, and if you miss the train, well, it's up to each person to discern the truth in this muddy world where pearls and fish eyes are mixed together. A lot of the smarter money than I am has been telling me lately that the longer term charts are what matters the most. In the range of 6H-12H-1D. I do tend to cycle between time frames, as a chart is a giant living fractal, but there's some interesting things to see on the macro term. The white lines on the graph are all major trend lines drawn from the 1D chart. Where we are right now is in an ever-weakening ascending wedge in the long term, and our short term channel is also an ascending wedge. These patterns do not bounce indefinitely and will either break down or break up. The previous two channels followed a similar path before breaking down, dropping below the cloud, bouncing, and regaining momentum for a new ATH. Right now for where we stand, for the pattern to complete, in terms of time we would be looking at a big dump coming in the range of immediately to early November before bouncing. And then when it bounces it would be projected to bounce somewhere in the range of $7500. In the middle of November. Amidst all the hard fork drama. That time line neither makes sense with the fork nor does it fit the trajectory from the other ATHs. Also, when you look at the longer-term graph, the size of this final ATH wave was really quite aenemic compared to the size of the waves in the previous two, although the volume was much higher. Patterns fail and break down. So what to do if Bitcoin Core, after a year of parabolic 1000% growth, actually collapses through its trendlines and enters a long term bear market? Think about all of the alts you've been bag holding for the last 2.5 months, how the volume is low, nothing is ever happening, there are never any gains, you're only catching falling knives, it's only getting sold off, and every rally gets nuked immediately. If you have traded alts in the last 3 months, you have been enduring the future Bitcoin bear market. There are no bullish indicators on the 12 hour chart to be seen, and in fact squeeze momentum has finally logged a negative blip. The purple moving average line of Willy is descending, not ascending, and stoch is on the floor, which is a pattern consistent with the previous two breakdowns as well. There is a very high chance that the Bitcoin Gold scamcoin was planted as the proof of work parachute for Core to switch to if Core does indeed lose hashpower to Bitcoin Cash or S2x. You can see something is up because Bitfinex, a place that is religiously on the same side of the river on every issue as Core, still has Bitcoin Cash labelled as "BCash", but somehow gave BGold its full name. I had felt the entire time we had repumped up here that Bitcoin price movement was a bump and run and an exit strategy and something were amiss. And because of that, there is actually a major chance we get repumped in November as Core's faction attempts to make the Core chain establish dominance and prepares their final move. But that being said, this time there are major risks it crashes through the pattern and enters a very perilous freefall. The future of cryptocurrency is bright. However, Bitcoin Core is very unlikely to retain its first mover advantage. Bitcoin itself will. Right now it's somewhat mis-labelled as "Bitcoin Cash", but time heals all wounds.
BITMEX:BTCUSD.PShort
by RiversAndMountains
Bitcoin - As Time StopsBitcoin has made a solid recovery since the bounce off a major trendline at $5,300 and has since broken through all major resistances and appears to be on the verge of a breakout to a new all time high. News that Amazon will be accepting Bitcoin is evidentally coming on their conference call in about 6 hours, and so we now have a new group of people who have assembled to perform prayer to the moon as we progress. However, zooming out and taking a look at the 12h, there are major major bearish divergences. We have a H&S forming on the 12H, just as we did at the decline of the $4900 ATH. Also worth noting is if you trendline from the previous large dump through the most recent smaller dump on both graphs, they both dip below and then come up and retest the intersection of the shoulder line and that trendline. Will Bitcoin collapse and correct as it did before? Well, you tell me. Take a look at the EMAs (Willy21 blue line is very close to traditional RSI) and the Stoch on the longer time frame. We are in a situation where we are supposed to have the momentum to smash through major resistance with parabolic volume, yet we are very over extended and momentum indicator shows we are out of fuel. You know the saying "Buy the rumor, sell the news"? What's happening right now is merely this cycle's manifestation of China FUD. I do expect a push into 6k-6.3k on this before it reverses and dumps. Be careful you don't get stuck with bags and be careful you don't short the wrong situation.
BITMEX:BTCUSD.PShort
by RiversAndMountains
Bitcoin - All Your Spidey Senses Should be TinglingMake no mistake about it. We lie amidst the first wave of calamity. Amidst calamity, it is never so easy to see what is going on, or where things are going to go. If it were, it would neither count as calamity, nor would it be the case that most traders lose money in the market. It would also mean there was no money to be made in the market, and we wouldn't be here doing this. In one of my previous posts, which I've included, I warned of a risk of a Bump and Run Reversal where one has to be extremely careful at 5.9k to 6.1k. I also said that the pattern can play out in a failed run to 6.1-6.3k. So far, it would seem the read has played out well. What is a Bump and Run Reversal? d.stockcharts.com Forget all the lines on that as it came from merely a Google search, but a pattern where we bump here to $6,300 and then are nuked is looking very likely at the moment. Why am I warning of this? Because alarm bells should be ringing in your head. Why? Because at the same time that the price fell to a key support line, Bitfinex Tweeted that they'll be offering a Chain Split Token (futures) for Bitcoin Gold: twitter.com Why does that matter? Because with Bittrex and Finex, who are crediting the tokens but not providing a market, you have to have Bitcoin in your wallet at the time of the snapshot to be credited Bitcoin Gold. Do you see the idea? So, what is going to happen in the next 12 hours before the snapshot? Is the price going to go to Goblin Town so everyone can buy Bitcoin cheap to get their "free money"? It is the perfect storm to bring the markets to a $6,300 ATH, and as it stands now, take a look. We are entering all of the key trendlines and breakout points and indicators show reversal. Take a look at IOTA, OmiseGO, and Ethereum and you'll see a similar pattern play out at the tops of their ATHs. In trading, the most important thing is not not missing out on opportunities. Opporunities are there every single day in crypto. What's most important is protecting your money. Where we are right now is designed fundamentally to take your money away from you. It's a zero-sum game. Enlighten to it.
BITMEX:BTCUSD.P
by RiversAndMountains
6
Bitcoin Cash is the Greatest Bear Trap of All TimeI won't give much preamble about Bitcoin Cash. You can make your own decision about which side to stand on with the information that is available to you. That being said, as a trader, you should pay attention to price action first, fundamentals second, and politics and rumors literally not even at all. The reality is, Bitcoin Gold is a scam: twitter.com The reality is, right now, Segwit 2x is not in much better of a situation regarding their fork being adopted by exchanges. The reality is, Bitcoin Cash has been a functional hardfork backed, sustained, and supported by some of the biggest players in crypto. Bitcoin Cash is also going to be hard forking a la' Ethereum Byzantine/Metropolis on November 13 for a code update to fix the Emergency Difficulty Adjustment: www.reddit.com Fundamentals: check Bitcoin Cash is in a giant symmetrical triangle after its pump to $850+ in August and its slow slide down ever since. That being said, we have a beautiful formation with bullish consolidation towards the squeeze point as shown by OBV and Willy21. Also of note is WWV evidences that we've had extended periods of distribution, with some of the most violent distribution volume being after the October 17 dump. The October 17 pump was also the second largest accumulation since the August pump, yet, price remains healthy and has stayed with the trendline rather than breaking down like IOTA. The first projection from a non-manic pump-high in the triangle produces a target that conveniently lines up with the 0.786 fib almost perfectly. Price action: check Politics: who cares when you can double your money on the first leg up and you're dealing with something that has a known price-ceiling of $6,200+? If price breaks out to $360-400 and holds, expect one of the most amazing events in history to occur. If I am right about what is about to happen, Bitcoin Cash will vortex in a tremendous amount of new users to crypto. Bitcoin Cash will resurrect what the Bitcoin community was in earlier, less bubble-collapsed time periods. Bitcoin Cash is the biggest bear trap of all time. What you think can happen and what is actually happening are two completely different things.
BLong
by RiversAndMountains
5
Bitcoin - The Calm Before the StormDuring the run from 5.8 to 6.2k there were substantially less margin longs on Finex, averaging in the range of 20-24k as opposed to 30-35k on the way from $4900. General bullishness, velocity, price action, and confidence in the current situation has come to a taper. It's like the end of a party when you aren't that drunk anymore, are pretty tired, someone threw up, they turn the music off and the lights on, and tell everyone that you don't have to go home, but you can't stay here. The volume, momentum, and time we took to get here has reached a feverish pitch. How do we get to $6,500 and $7,500 under current velocity? It seems as hard as trying to climb the last few thousand meters of Everest. The reality is the pattern we are within since the original bump to $5800 is a rising wedge. The pattern at $5900 - $6200 was an ascending channel, which brokedown, and formed an even steeper ascending channel, which is quickly running out of steam, volume, and momentum. It is already within the oversold area of Willy21 while price can barely hold $6000, and WWV shows that all those coins that were bought on the way up are like an avalanche waiting to be triggered. We closed the 4H, 12H, and Weekly candles below $6,000. The pump ran out of steam and things are quiet. This is not a good sign. In order to maintain parabolic price movement and gains you must maintain parabolic volume. With the majority of the market losing money every movement, that is exceedingly more and more difficult. What goes up, must come down. OBV indicates that the upward momentum is genuinely having an exceedingly difficult time The terrifying reality of where we are right now is we visited $5100 only 4 days ago. If this pattern breaks down and falls through the cloud the real panic will first have a chance to bounce at $4850-$4950, our previous ATH. Failing that we will be facing prior resistance line at the $4,600 range. In my opinion, it is exceedingly difficult for Bitcoin to maintain its Northern movement without a shakeout and a reset. FOMO is your enemy. Remember, this is Bitcoin. Bitcoin is a raging long-term bull, but it cann't go straight up.
BITMEX:BTCUSD.PShort
by RiversAndMountains
3