Bitcoin report 300617 - Are we ready to break higher?
Is Bitcoin finally ready to break the 3000 mark again?
The purple trendline is the one to watch after the black trendline below it has been broken.
As long as price action does not form a lower low below 1, we will still be bullish near term.
The 1234 breakout pattern is still valid at the moment.
The next possible scenario is price action retracing right below the 3k mark again.
The difference between the 1234 and ABCD pattern is that:
1234 pattern charts the possible hight of where the price might hit after a breakout of a trendline
ABCD patterns spots the possible area of the pullback. At that point of time oppotunity to buy again will be available, having in mind the price reaching point 4.
The 3k point also marks a psychological resistance area, with high probability of failure to break, forming a double top.
News update
Fidelity Raised $9 million worth of BTC in 2017 Source: Coindesk
Segwit2x to realease new codes tmr Source : Coindesk
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Didn't new about Fidelity. Good found. I hope so. I read that 21 July is an imporatant date for the Segwith 2. Don't know the exact details.
August 1st i think will be the more determining factor for BTC and subsequently ETH. If BTC fails the SW2 public eye then it will devalue as money shifts into ETH
Thank you very much @makeithappen & @christopher-ryan for having a discussion in my post on BTC.
That is what I hope to see more, rather than upvotes. Discussion, I will always upvote 100%.
Most of the time, markets are always forward looking, whichever direction most people think it will go, it would had gone. By the time public determines if it is +ve or -ve. The big boys would be moving the opposite direction.
Example bad news:
BTC takes a further dip. Most people will panic sell.
Big boys will accumulate.
Therefore, by looking at the market direction before the release, we can gauge a rough outcome(:
I think that August 1 will result in a dump regardless of the outcome of the fork. Most investors does not even know what will go on at August 1 and will just take the profit and come back after the dust is settled.
I agree 100% but it will happen fast. I suggest putting stop limit buy orders on Gemini/GDAX for major dips in BTC. I mean the coin aint going away but its value will suffer but wont matter if you can pickit up at $1200
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