Bitcoin Gold (BTG) Update: Can we expect higher highs? Check out analysis!

in #bitcoin3 years ago

SUMMARY

Bitcoin Gold (BTG) spiked and is now consolidating as an a,b,c,d,e triangle. Elliott Waves show 1,2,3,4 are complete and so that leaves wave 5 to complete. We could briefly exceed $300 or so. Post five waves, expect a requisite a,b,c correction.

Below is the BTG/BTC pair and it's very similar to the BTG/USD pair. Five waves target 0.0512 BTC.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**

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Let the good time roll!

What are your thoughts on the longer term for BTG? Is it worth holding onto or should we dump it at the spike identified above? Now that Trezor have released their splitting tool, it should be straight forward for me to split them out (and safe to do so):

https://blog.trezor.io/claim-bitcoin-gold-bgold-btg-f66969e7f2c0

once profitable, paramount to protect profits.

Very true when buying the asset. It gets more difficult to consider when the asset was ‘free’ due to the fork. I appreciate this has come from the value of btc but as it’s now independent it’s difficult to judge what your ‘buy in’ price was and hence, what is profit.

IS BTG the new BCC for the year to come? only time can tell... But one may actually want to get a couple ones, just in case...

thank you very much!

So bitcoin gold is a thing now

Won't be a thing for too long. But it won't be totally forgotten either. BTG will be....... around.

My understanding is BTG will still have 1 wave upward soon, am i correct in my understanding? Or is it going down, down, down? Thanks Haejin for your input....Blessings!