You are viewing a single comment's thread from:
RE: BITCOIN (BTC) Target of $6,200 STILL ON? Check out this Technical Analysis!
Haejin, do you factor in the Oct 25 Bitcoin Gold drop? (wouldn't it be expected people continue to buy up to that date to get their free money?) Then after this date, the reversal in trend.
As a Technical Analyst, I believe that TA begets the fundamentals and not the reverse. Elliot Waves states that a news or an event shall arrive to justify the forecast and never the reverse.
So, no, I don't take fundamentals into my analysis as they are as result of sentiment and don't drive sentiment.
Actually prices started to rise way too early for Bitcoin Gold and SegWit2X. TA showed it would go up and a mild announcement from Coinbase and Bittrex triggered and unjustified rise for the announcement. The sentiment was there, the announcement just rushed it. I do think that after Bitcoin Gold the fall will come... and IMHO, it will be fast based on dissapointment Bitcoin Cash already happened, it won't repeat on Bitcoin Gold. If you lost it... you lost it.
znog im not sure i follow what you are saying. Do you mean Bitcoin Gold will be a dissapointment as it will not be worth anywhere near as much as Bitcoin Cash was ? how low do you think BTC will go after the fork and do you think the segwit2x fork will cause the price of BTC to rise again on the run up ?