Crash might be coming, get the cash ready
Hello, good afternoon dear steemians.
We can see on the chart a Head & Shoulders pattern forming in Bitcoin, which will trigger a correction and, hopefully, a good entry point for bitcoin.
Bitcoin seems to be aiming for a new All time high and even though it is possible, it is highly unlikely at this point. We will probably see the right shoulder finishing, while the indicators stretch followed by a steep drop afterward.
And there would be a good point to add to long position.
- The Head & Shoulders pattern indicates a drop, beeing a good buy area at the range of $5.000 - $4.600 USD.
- The daily MACD shows clear sign of trend reversal. In the weekly chart the MACD also shows another pattern of trend reversal.
- RSI and Stochastic RSI, both show bearish divergence;
I sold 30% of my position and waiting to rebuy at given range, leaving an order for a possible falling knife @$4.500 range.
There will be an excelent buy opportunity once it returns to the bottom of the trend line.
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Please, always provide the source of images/photos being used.
how will I know where it comes from? there are hundreds of copies of every image. should I link to anywhere?
A link to where you found it is fine for that one.
okey, count on it from now on.... had no clue steemcleaners required it
We are getting more content creators reporting users who use copyright images or don't cite sources for different CC licenses.
We look at this from the plagiarism angle - not copyright so we just drop comments asking users to cite where they found the images.
Just hold your BTC. it fluctuated with around 300 dollar per day anyway
Just hold your BTC. it fluctuated with around 300 dollar per day anyway
That makes no sense. But holding at this point is also a good move
There wont be any BTC falling until segwit2x fork... People will keep buying and holding BTC to get the free segwit2x coin, until then BTC will keep raising in price and probably break new highs... December would be a good month to see big BTC corrections...
Well the TA shows the H&S forming and I acted upon that information. I don't follow news or trends, mostly charts
Charts are only that, they show you how the market was, the charts dont give information about what will happen... People follow trends, specially if there is free money for holding bitcoin, they will, it doesnt matter what charts looks like, people wont waste the opportunity of getting free coins... Trust me, BTC will raise to 7k or even more in the next few weeks... Selling is not a good move...
It is a 2.18 risk/reward ratio. I will take it happyly
I guess the charts were right. Head and shoulders completed and BTC heading South
the charts are right a big majority of the time =). make or break point at $5.500 USD
were is YOUR analysis? why would I trust you? how can OPINION be more trustworthy than actual analysis? charts are only charts... opinion is just opinion... besides, if you knew anything of TA you would know that TRENDS are expressed in the charts.
Dont get mad, i am just giving an opinion, there is no reason for getting upset :)
I am not saying my opinion is better than any other... Relax!
:D
not even close to that. but i ask for factual information. to dream I would post under "fantasy". as far as I know you came to tell me and my readers I was wrong, telling people to do the opposite of what i was saying and all based on your word.. as far as I know if price of btc rises 1k$ in anticipation of the fork then the coins weren't free... not even close.
an opinion comes with "i think" you were absolute... now that you might be wrong is opinion... funny
20% profit with a 4% risk... damn dumb move i made there
My words are not absolute, you are assuming that... I dont have to say "i think" every time i give an opinion...
Also i never told anyone to do anything not even close LOL
I never said you made a dumb move not even close either
You got profit and thats cool, so why are you so angry with me?
Be happy my friend! :D
I agree 100% on your timing for a big correction.. Santa Claus is coming to town...
I think BTC will reach 7000$ or higher before S2X.
the overall trend is bullish. doesn't take the validity of my target
Great post @Gazur !
Thanks for sharing !
=)
There wont be any BTC falling until segwit2x fork... People will keep buying and holding BTC to get the free segwit2x coin, until then BTC will keep raising in price and probably break new highs... December would be a good month to see big BTC corrections...
Holding bitcoins please
Fully agree, this is exactly what I've seen yesterday and I posted here: https://steemit.com/bitcoin/@toofasteddie/bitcoin-may-suffer-a-deep-correction-by-the-end-of-the-year
I correction is coming and so, an opportunity for the buyers soon
Nice, <3 to see support. did you sell some % of your position?
Yes, 50% sold, I'm expecting a correction similar to the one occurred after 1st of August, and you?
At the moment I am not expecting anything so harsh
I'm watching bitcoin price also… debit card in hand waiting for the price to fall below $5000 which I think it will. I think everybody is going to be selling for a day or two... then I think the price will go up again with Segwit2x coming... price crashes to $4000 - 4500 range at Christmas when people want extra money.. just my opinion tho
yes, I think so also. But that would put BTC at 10k for the 5th elliot wave
@gazur, thanks for the interesting charts. A great analysis. Let us hope that the correction come and I get a chance to enter.
Following you now.
Thank you
Great job noticing the H&S but it could still go on a different path as the pattern isn't complete yet. The coming fork could easily push for another ATH. Then we'd see an epic selloff which BTC deserve.
Anyway, great post. Upvoted and followed!
thanks
Wow very interesting article! Good perspective to view Bitcoin from. I thought there would be more of a sell off after Bitcoin gold came out. Wonder if there will be a sell off after Segwit 2 comes out? And ythoughts ?
I think we will see a sellof. Segwit is more important and more closely followed by the community. But apart from that. A very big pump should be coming after this retracement
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Bitcoin, is pose to go lower, has not flip yet going back and resuming the uptrend, now is consolidating, to resume, needs to break the recent lows that she did, you can see easily on weekly chart and daily.
You ask why taking the lows, Bitcoin like the other majors Crypto, is manipulated by the banks, and they use the same model, before resuming, they have to take out the the other participants, that follow classic TA.
So who is trying to buy now, put stop loss below previous low, and in most charts there is also a double bottom, two same price lows, another as for TA, where stop loss is a secure place to be.
Now a part this, I think really that 8k is a price where will be lots of interest from the banks, and they will buy, all the people that will pull the plug, from about 12k until 8k, they will buy all from the sellers.
Slaughtering, them, then the price can resume, too many normal people making money is not the Bank model, they will not allow it.
Now Bitcoin seems to dictate the trend also of many other coins....so the market as paused in most coins, or retracing too.....together with Bitcoin.
Notice how ETH instead has a good tone...or BNB for Binance, example, people tend to move to crypto, that are felt more secure....