Our Great BTC Entry hit the third big long target overnight, a full $3,200.00 above our buy point, and almost $4,000 above the big daily long at 2917.
As I’ve mentioned before, BTC has been trading very technically, meaning that trading is dominated by professionals, and that, in turn, means that targets are usually respected and can mark significant trading levels. Put that in context with the 3 main targets having been hit along with the 3 main targets of the extension setup within the larger measured long, and now a break above upper channel resistance and maybe you’ll agree that those professionals are most likely taking profits. The probabilities of a reversal are rising fast with every new uptick. Markets move in traditional measured moves, then extensions, and then straight up. The current situation for Bitcoin right now is straight up or not at all.
@cryptographic its time for altcoins to regain strenght. Thanks for sharing this great analysis and your thoughts. upvoted. @gold84
Let's hope so. I getting really tired of all this red. 😡
So what are the likeliest levels to be tested
There's an old saying on Wall Street that goes: "what everyone knows isn't worth knowing".
Do you think everyone "knows" that Bitcoin is going up? Does everyone agree that the place to be is BTC? Is everyone piling into Bitcoin in order to get more free shitcoin forks? Does everyone think that those shitcoins will be worth hundreds of dollars? Is everyone selling the last of their Alts in order to get on board?
When everyone is on the same side of a trade, the trade usually collapses. I don't see clear levels to test. I think Bitcoin is going to implode. It's got too many things going against it. See the following articles just from the last two days:
http://www.cmegroup.com/education/featured-reports/evolving-economics-of-bitcoin-gold-currencies.html
https://www.sigarch.org/blockchains-considered-harmful-is-brute-force-processing-replacing-good-design/
Ironically, the CME news may very well be what marks the death knell for BTC.
Here's my long term technical view on BTC:
BTC is getting all the attention while the altcoins are not getting any love.
Thanks for this insight @cryptographic. I had to add more to my BTS position....was in under 6 cents. Not a huge position but another toe in. It seems under 10 cents on that one is a gold mine.
One thing that excited me is there is a proposal put together to build out Bitshares in China....that excites me since we know the back and forth that goes on there with cryptocurrency.
@cryptographic,
I have read a lot of crypto market analysis, but here I feel confidence about what I am reading! You are absolutely correct! We are dealing with professional traders and they won't loss their money at the end of the day! So, we must act as them or we can experience the loss as usual! I wish to hear more analysis from you! This is absolutely brilliant!
Cheers~
Agree with you...the TA indicates a deep correction the problem is always the same, When?
The bull bitcoin crowd seems only to grow as there are still many doubters. Of course I hope altcoins will follow suit including steem.
Time is of essence and it can be seen pretty soon enough on BTC.Thanks for the Update buddy
Resteemed
this is going at a rapid pace :D
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Great info and best graphic chart.
100% like and resteem
Right, strange situation. Seems that a lot of people still invest at the maximum peak. Let's wait for the correction.
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Bitcoin...price is rising as like as jet aeroplane.
Outstanding perfomance for bitcoin...
Thank's for sharing
@followed and upvoted
Informative....
Thank's for sharing sir
Thank you for sharing massive news @cryptographic. I think the crypto market will never fall down. Bitcoin prices rise up and hopefully wait HODL. You`re great analysed here with technical chart.The current situation bitcoin going straight up. we need to be very careful when making a decision to invest BTC.
BTC massive hit target again, thanks for shared very informative post. BTC has attracted cryptocurrency market.It seems like bitcoin might fall to rise again.have to opportunities trading bitcoin current occasion. Some percentage used trading other one hodl btc. BTC have been hit 3 main targets very recently.
Thanks for giving opportunity to discussion.
Thanks for the information of crypto trading.
Thanks @cryptographic
Have a nice day
BTC showing huge performance in decentralized blockchain very nearly period. Have to read you last bitcoin target hit posts.In that bitcoin trading beneficial way in this platform. But can you give solution how is invest way without risk & loss. You have great suggestions.
Thank you for post useful info sir @cryptographic.
Thanks for sharing.
https://steemit.com/art/@maliksaqib123/hot-or-not-10-makeup-ideas-for-halloween-2017
A nice idea, we can use your daily publications on this subject, to be certain to make the right decision.....