BTC update 07.01.18
BTC is not out of the woods yet. This impulse up was very weak. If 5 waves up are done, we might face the same problem again as we had a week ago. This could be counted as a 3-3-5 expanded flat for wave B.
This is just for your awareness, but if you see a sharp decline before BTC is able to make a new high, be alarmed:
I am still bullish for BTC, but awareness keeps the panic away... Stay tuned...
.png)
If you think this to be useful information:
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
.png)
MUST READ!
DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.
Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...
Have a nice day :-)
BTC dominance is at some seriously low levels right now. Seems like alts are the "hot" investment right now. But once BTC moves, expect big drops in the alts.
Dear pbgreenpoint,
So true. About 30% dominance - that is quite interesting. Definitely alts are the thing, but not only right now - since November and especially December.
And you are right again. If btc goes up fast, alts usually drop. If btc goes down fast, alts go down as well. Everything between normally lets alts rise. Of course there are some exceptions.
Yours truly,
Gandalf The White
I am betting BTC is moving side-ways, and will for a while, between 20k and 10k roughly.
This will give fundamental alt coins the realization of taking major swings against BTC as their products and promises gets realized early in 2018.
And again haha; yeah, could be the truth but I think that it could fall back to 10k$ (maybe lower) and then go ttm.
However, we will see. (:
Dear ew-and-patterns!
I am totally with you. I do not think that the correction is over as well. I mean it could be but it looks like it has enough potential to fall back to 10k$ or maybe even lower.
Thanks for your post my friend!
Cheers!
Yes, remember that BTC was under 10K before December. Many skeptics have not yet realized that we are well over that mark, going into 2018.
This is well deserved sideways movement for alternative coins to make their swings against BTC as products and promises gets realized.
Dear louwtjie,
You are right. There are many awesome coins and the best ones should rise up. Although some like tenx (pay) are undervalued imo. But I believe that btc will stay at the top (at least if no other coin (sur)passes him).
Best regards,
Gandalf The White
BTC should drop to 5000 until they fix their ridiculous slow transaction times and high transaction fees. I'd expect BTC to decline sharply until it is upgraded.
Dear cryptonfused,
I know your feel. Those conditions are terrible. I do not get it why the whole community cannot come together and do the right thing and decide wisely. Every intelligent person should know that the fees are too high and the transactions too slow. So this needs to be solved (bigger block size etc.; but most important: there should not happen the same thing as with bch in August; the consensus should be as homogeneous/large/consistent as possible).
If btc keeps being like that, it could get really dark for its future (and bch might overtake (btc)).
Cheers!
Cheers!
Until they fix it? That's what a hardfork is made for, and that's already in place. Ever heard of BCH for example? People are so stubborn they won't use it. How sad!
I'm not one of them, never dumped BCh after the fork but we are talking about an upgrade to Bitcoins, not a completely new different coin.
If you need to move BTC quickly and cheaply, use segwit. if your exchange or wallet does not support segwit, write to them and ask them why they have not implemented this fast and cheap method to transact btc.
Have a nice day too and thank you for the update!
I thinks bitcoin will swing a bit and than go up or down either way
Up or down meaning between 10K-20K. The fact that we are holding above 10K is remarkable.
I believe many holders had sell orders at 10K, and are left with regret, waiting to buy back at 10K resistance.
Yo louwtjie haha, me for example. Though I bought some before. But many people did not buy and presumably really want to. ;D
Bht alah h keep it up
Your this and all of the past analysis are worth studying.
Keep up the good work.
Share your opinion. ;D
TRX up you will see it. :)
please checkout my first post on TRON https://steemit.com/cryptocurrency/@cryptocompound/next-cryptocurrency-opportunity-tron-ripple-trx-xrp-btc
Trx ftw! :D
good post, followed and upvoted
Haha, you here as well :D
I'm everywhere man ;-)
Nice!
BTC is making people lose a little faith in her, I think the sudden rise made people put to much hope in her
Dear josediccus,
Btc definitely had some stunning moves and I do share your opinion. Hopefully the community will come together and starts having the same consensus about updating it. Otherwise btc's future could be very dark.
All the best!
Gandalf The White