My earlier graphs could be incorrect, this is a refinement.
If this holds true, we're in Wave C of B. Whereby retracement to $5k level, takes place around Nov 17-18.
This is more inline with Tonevay's predictions for BTC $5k.
A few things are on the cards right now though:
1. If you draw a parabolic indicator, you'll notice that $5.5k was the last bounce off the parabola. So we may not see $5k, and instead an early bounce around $6k.
2. BCC is currently holding a lot of BTC. If Bitconnect goes bust, it will be a perfect market storm to drive BTCUSD prices below $5k. The ensuing chaos and fear will drive speculators out from the market.
The safe strategy now, might be to buy the breakout at BTCUSD $7k, above the Fibonacci resistance line. Tonevay is entering at $7.5k because he sold around there, so for him it's fine.
The daring strategy for me would be to catch BTC around $6k, parabolic bounce, if you do this, I'd recommend no more than 50% of your liquid assets, that you're prepared to lose.
FA right now (market sentiment) is rather weak for BTC, even though general consensus is that BCH is trash, and Segwit is the better solution for scaling Bitcoin.
We don't want to trade against the market, even if we may hold BTCUSD (Segwit) in high-regard.
BTG has some good promise, recommend to HODL your forked coins.
My scaredy-cat strategy if I miss all the above entries:
1. Buy above breakout from $7-$7.5k
2. Wait for BTC to form strong support at $5.5-$6k, then buy
3. If BTC breaks $5-$5.5k, re-enter around $2.2k, definitely market will be in super-panic-mode.
If this holds true, we're in Wave C of B. Whereby retracement to $5k level, takes place around Nov 17-18.
This is more inline with Tonevay's predictions for BTC $5k.
A few things are on the cards right now though:
1. If you draw a parabolic indicator, you'll notice that $5.5k was the last bounce off the parabola. So we may not see $5k, and instead an early bounce around $6k.
2. BCC is currently holding a lot of BTC. If Bitconnect goes bust, it will be a perfect market storm to drive BTCUSD prices below $5k. The ensuing chaos and fear will drive speculators out from the market.
The safe strategy now, might be to buy the breakout at BTCUSD $7k, above the Fibonacci resistance line. Tonevay is entering at $7.5k because he sold around there, so for him it's fine.
The daring strategy for me would be to catch BTC around $6k, parabolic bounce, if you do this, I'd recommend no more than 50% of your liquid assets, that you're prepared to lose.
FA right now (market sentiment) is rather weak for BTC, even though general consensus is that BCH is trash, and Segwit is the better solution for scaling Bitcoin.
We don't want to trade against the market, even if we may hold BTCUSD (Segwit) in high-regard.
BTG has some good promise, recommend to HODL your forked coins.
My scaredy-cat strategy if I miss all the above entries:
1. Buy above breakout from $7-$7.5k
2. Wait for BTC to form strong support at $5.5-$6k, then buy
3. If BTC breaks $5-$5.5k, re-enter around $2.2k, definitely market will be in super-panic-mode.