Technically speaking bitcoin bulls are getting exhausted judging from the bearish divergence on RSI and DMI and Tom DeMark’s TD Sequential. TD Setup on weekly will be completed end of this week with the 9 count after which pause, pullback, or reversal is likely. Correction can still stretch up until count 13 which will be the end of the year. At this point the main price drivers seem to be Koreans and Japanese plus new money coming in due to this sudden rise in price. At this point I am mostly out of BTC and in partially in BCH.
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I don't get why you're hedging with an artificially pumped scamcoin like BCH, completely dependent on the market 'interventions' of certain individuals. Why not XRP or at least some other legit and well-established cryptocurrency? Just wondering and trying to understand your thoughts.
unbound
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@cryptowiz, thanks for sharing your thoughts. This market is highly manipulated and I don't think there is any coin that is not artificially pumped. I am trying to diversify. Have more in XRP and ETH.
LazyDevOp
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@unbound, I am going to get into XRP after the speculative confidence in the crypto markets is broken. It's so difficult to figure out where the bottom may be at given these new conditions :'( - XRP really is promising in that it can be used as a currency, is instant and presents some real world uses the business world can get behind. There is also a large supply and the ability to handle a very large amount of tx's. On that end, do you think there are other promising alts in the same boat?
daTab0t
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Thanks for the Bot! Looks great!
unbound
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@daTab0t, Thanks for using it. Would love to hear your thoughts and feature requests :-)
scousertommy
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could the wave move up to 12k and beyond and then retract ?
unbound
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@scousertommy, It is already being traded above 12k in Korean markets. Could test 10k Euro before retracing a bit.
scousertommy
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could it also keep moving up gradually until the end of the year , is that also possible , or must it go down to be able to move further up ? so far it has been gradually incrementing always up though mostly , there were already quite a few signs even before it reached 10 k that a bearish run could be next but it was not to be it just kept on incrementing gradually. what differences are you noticing from the patterns that we have seen in the last 3-7 days please ? thank you for your time and dedication much appreciated.
unbound
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@scousertommy, Everything is possible. You can not predict this market. Specially when grand mothers enter the market out of fomo!