Segwit2x
Bitcoin course until september 30th 2017The trend seems to be going down. Possible causes are SegWith2x and the closing exchanges in China on 30th september..
Bitcoin about to repeat history? Mid-term TP ~$2.5-2.6kso looking at the weekly chart, it looks as if history is about to repeat itself with BTC/USD .
looking at current fundamentals, this lines up nicely with uncertainty surrounding the upcoming Ethereum hardfork as well as the segwit2x Bitcoin hardfork in November.
so, you wanna play smart? don't touch this until that level. what's going on right now is a classic bulltrap IMO.
trade at your own risk.
Bitcoin - The Bearish Continuation ScenarioInfo:
After bitcoin topped off at 5000 it made a quick deep dive to 3000 (even going below slightly) this all happened in approximately 13 days. The main reason for this is that bitcoin has completed three waves up and was ready for a potential correction but the china news about banning exchanges let it plunge at rapid speed. The bearish news of china is still acting, bulls are fighting hard against it but this price correction cuts pretty deep in future uptrend and complete recovery. My feeling says this is the bulltrap (4080-4150USD) and there will be one more wave of sellers wanting to get out. This will form a major ABC and then we consolidate in the lower part ranging from 3000 to 3600 to clear up completely what the future politcal (China volume migration) and technical (november harfork SegWit2x) direction is.
4080 is also the top of the trend channel and it's advised to close a long at this point because pullback is likely. Also this could turn in a big Head and Shoulders pattern which is indicated in the chart.
The bull versus bear fight will be though, good luck and happy trading!
-TheTrex
BCH volume going down , might be possible in coming days you can see downside trend 30% from BCHUSD rate.
BTCUSD 8h: Remember segwit. Forecast 7.000/7.500 USD (Chart 2/2)In my chart of 21 July I described the segwit steps. The prediction was exactly right (first trendline). Now the segwit goes on. Here is the new chart. All other movements I have considered.
Let's see what happens. Happy trading. :-)
See also:
Chart 1/2:
Current forecast:
Segwit 2x lock in doesn't mean Segwit is active. (Bitcoin)Many people out there think that bitcoin is already active the segwit.
But no. They lock the segwit doesn't mean the segwit is active yet.
the bitcoin still have so much unconfrimed transaction.
blockchain.info
According to this website : xbt.eu
Bitcoin will active at 22nd august 2017.
Bitcoin need at least 2000 block to get active the segwit.
So what it's mean ?
if we look Litecoin while once they active the segwit. LTC shot up 50% up less then a day.
IMO though i still believe this will happened in Bitcoin also.
Please comment.
7000? Maybe.But not today.
According to my calculations, the last bitcoin will be produced in about 2023. By the time judging by the cyclical movement of the currency, the level of 7000 is quite possible! At the moment, the time of correction in the area of 500
Bitcoin - Marginal ThemeIf you look at Google Trends , you can see that bitcoin is popular in countries such as Bolivia and Nigeria. Also, you can see a decline in interest, which coincides with the divergence of price and volume.
Bitcoin - Sigwit FutureWith the growing excitement for the coming Segwit I think that we are going to see a lot of volatility until it locks in. After the lock in I believe there will be strong FOMO from the non Bitcoin community. What are your opinions?
Bitcoin: Swinging down to 2400-When the fear of "1st of aug" & classical ask/bid behaviors(short) considered this one is very likely to happen.
BTCUSD: Bottom's in - Expecting Segwit activation and no splitI updated my last publlication when I went long again. I have a full position now, in all my crypto portfolio. Waiting to add after we get further confirmation, and after being in some profit, on each and every single trend continuation signal on the way up. Sentiment and technicals gave me a good signal today, so I closed my $ETCETH and $ETCXBT longs, and kept my $ETH as a longer term stake. Made out with 2% with it, which helps alleviate some of the loss.
Hopefully, people following me have a reduced drawdown, and are in good shape to continue following this powerful trend.
Best of luck,
Ivan Labrie.
A take on BTC short-term price actionThe chart speaks for itself. Make sure to have your funds in a safe place BEFORE 1st of August, under no circumstances leave them on exchange (unless you dont mind losing them). Unfortunately, I am not able to predict what will happen after the critical first day of August as the situation is highly complex. One thing is for sure, fear and uncertainty will be spooking around in most of us. That would usually result in a sharp sell off, but since transactions are risky then, I really have no idea how this situation will evolve in term of price movements. I would really appreciate any feedback here, let me know what you think. Stay safe guys!
Bitcoin Bullish Reversal with IH&S as Segwit Activations LoomUnfortunately, it seems that the Megabull ended prematurely thanks to a bunch of greedy companies and miners attempting to monopolize Bitcoin and sabotage Segwit:
Roger Ver with Bitmain attempt to launch Bitcoin Unlimited through a Hard Fork but fail to get community support due to poor coding of BU, ASICBoost, Antbleed etc.
We finished from BU thought we were done, then Barry Silbert whose building his empire on cryptocurrencies through legal and shady means (owns Digital Currency Group, Genesis Global Trading, a bitcoin OTC trading firm, and Grayscale Investments, took advantage of the Ethereum fork to make ETC from the chain split) and big crypto-dependent firms took it upon themselves to come up with Segwit2x variation through NYA Meeting without inviting Bitcoin Core devs (main Dev of Bitcoin since inception). These big players decided they would develop instead their own quick untested Segwit version through RSK developers (Bitmain invested in them and who knows who) and also Hard Fork a 2MB form as well few months later. The rest of the community was not consulted.
BitcoinABC: Although Bitmain agreed to Segwit2x, somehow Jihan wants as well his own Bitcoin version through a Hard Fork which he would pre-mine for himself before releasing and it would increase the block size to a whopping 8MB.
As you see we have multiple big corporations attempting a hostile takeover of open source cryptos. The worst part is that their Segwit code is poorly coded/buggy and it also contains hard-coded seeds that send network data to some of the corporations (data mining). All these corporations should be held liable in front of a court of law for attempting to destroy or manipulating the $80 Billion cryptocurrency ecosystem in their favor.
Anyways, enough venting from my end and lets just to this simple analysis of the current bear trend in play:
Based on this 235D cycle and the blue bear market fractal from 2013 (post-megabull bearish trend), Bitcoin could attempt to put a bottom earlier than expected at $1950-1850 and start a new megabull cycle immediately if Segwit Bitcoin Core (BIP 148) activation succeeds without a chain split through August 2017. The bullish reversal would complete through the plotted inverted head and shoulder (IH&S) on the chart. As depicted, we would start the new megabull around September 9 and reach the final All Time High at $13,370 - $10,000 at the 235D Cycle top on October 9. This is the best scenario and to be honest the chances of it occurring aren't pretty high due to the uncertainty lying ahead with potential chain splits and hard forks from different groups. Worse case scenario not depicted on this chart would be 1 year of bear market 2014 style
Currently, were looking at a bottom as:
1. Support at $1950-1850 which is 50% Fibonacci retracement and Bitcoin is potentially testing this area as a final bottom.
2. The 1D RSI is oversold currently at 28 and we had some capitulation wick down to $1830 on Stamp and finex.
3. Notice we hit the 3D Bollinger bottom band as well at $2000-1975 roughly. Previous bear trends weren’t shy of dropping $100-200 under the bottom 3D Bollinger band with volatility before violently bouncing up with a short squeeze.
Stoplosses:
1. If we do close a daily under $1800 then the entire trade setup would be VOID.
2. Also consider this entire chart VOID if the Bitcoin chain splits in two or more chains through August 2017. If we do split chains, then expect Bitcoin to crash down to $1240-1140 support eventually.
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Bitcoin bubble burst? (Let's Talk about this)As we know bitcoin price is crash 20% in these day.
People are panic as shit, they sell all bitcoin they have etc.
What i going to say i'ts Calm Down.
Is the first time in history we use currency that no one ever can control it.
The main problem why bitcoin is going so low this day is because there is a ton unconfirmed transaction in bitcoin.
The scaling problem is the main problem right now.
According to this website : blockchain.info
bitcoin only provide 1.93 transaction per second, Is not good really. if we compare this to visa or mastercard they can provide 50000 up to 100000 transaction per second.
There is a ton of idea out there how we can make bitcoin transaction more faster then ever. (segwit)
there is almost 90% agree that bitcoin should have a segwit rather then any idea out there.
website : coin.dance
The deadline date is on august 1st this year.
Some people said if this problem doesn't came out with a solution bitcoin will get a hard fork, and i said yea it will
Imagine what happened in ETH and ETC. that is almost the same technical if we get a hard fork in bitcoin.
Otherwise this is a good good opportunity if bitcoin split, here is the idea
let's say if you have 1 bitcoin right now and the bitcoin split, your coin will be divide in 2 coin and i believe when bitcoin split, Bitcoin price will down. like ETH and ETC market right now. the second coin jump from 1 dollar to 24 dollar per coin, if the 2nd bitcoin will be open price at 10$ i'm pretty sure it will touch 1000$ before it turn's to bubble.
When this split scenario happened there is no way that i don't throw money on it.
But i hope this scenario doesn't happened, i really surprised these guy like Goldman Sachs, Roths Child are predict that bit coin price will be 5,000$ before 2018, Finally people are taking bitcoin seriously, these mean more and more investor will come.
gold man sachs statment : www.coindesk.com
Let's talk about technical analysis side
Try to scale up your chart per month and it's still bullish,
per week it's bearish per day it's a bearish
we have a strong resistance level at 2650$ we try to broke that many time but we fail and feel in to 2500$ level.
End of statement : Stay on The game
