That peace will be closed regardless if someone opposes or not.
Many will lose, but only the one who are buying Bitcoin and stories about Bitcoin .
Bitcoin is not , it is , but pushed by the blue guys and it will eventually end up falling dragging everyone and everything.
Don't participate in the hype, because it will be corrected.
All stories about either Litecoin or Ethereum Classic and so on and so on will be decreased big time, despite having fork with airdrop.
Fall is IMMINENT and it WILL HAPPEND.
Don't fall with Bitcoin .
Super mega altcoins regaining value as writing this article could very fast be cut off on the half of uptrend as Bitcoin ends up failing to breach 9500 and having reversal to 7850 value.
Will that level be able to compensate having in mind Bitcoin is artificially pushed?
Therefore slingshot effect steps in and takes his place in price reversal increasing momentum.
I don't think it will hold, price could go easily to 5500 level which will be retested heavily (so it won't act stable).
We won't have "big rebounce" because that level of support is already "partly damaged".
What i want to say is " TRADE VERY VERY CAREFULLY UNDER THESE CIRCUMSTANCIES" or don't trade at all untill we don't experience dip when Bitcoin will retest " lows"
Don't get tricked by market makers or incompetent persons aiming for non realistic values.
When everything is " ideal" anyone could be analyst.
But in these extreme conditions, we will see how many are up to the task.
Thank you for reading and pay attention as situation developes
This situation appears to be false/positive, also know as HUGE BULL TRAP happending in front of our eyes, while people are still in denial.
Judging by analysis it could be double bull trap, same as the one while attempt of breaking 13,500 three weeks ago.
The difference is that is "happending on lower levels" and nothing else.
I would not suggest anyone to trade under these very suspicious circumstances.
IF you decide to trade, use a stop loss (it's a must), but i would not advise any kind of trade.
While doing so, you are doing it at your own risk.
Bitcoin is bullish on short them, but bearish in general and it WILL SINK DEEPER.
We don't have clear movement here.
This bullishness is nothing but the temporary hype and it WILL BE CORRECTED by going down only and (by my opinion) everyone being bullish will bleed badly (4th time in a row), by calling bullish when it's not proper time for it.
However, we could possibly use this situation to our advantage.
Considering the price is 9856 in the moment of writing, i do expect price to go to 10500 level, then we should have drop to aproximately 9.300 and then it will probably rebounce to 11.500-11.700 level.
After that i would suggest cashing out the positions, beacuse we expect price reversal.
Be advised that enviroment is very unsafe and regardless all the indicator and thing which people are using when trying to predict Bitcoin movement, Bitcoin is constantly overbought and while 20 times being barish makes 20 uptrends, but that's not my argument.
This pump is not justified by any cause (my opinion), but as i see it under these ARTIFICIAL VALUES, it will lead us in a double bulltrap (i repeat, yes), because it's trying to leave an impression of being absolutely bullish by any indicators, but eventually Bitcoin WILL FAIL.
-Drop to 9.100 level (using a stop loss) (possibility)
-Uptrend to 10500 level
-Downtrend to 9000 level (aproximately)
-Uptrend to 11.500-11.700 level
CASHING OUT YOUR POSITION and leave it in order to see how situation develops .
That's our rebuy.
Current price 9876$ on poloniex.
Having in mind price level is artificially pumped to a higher price range we could experience two huge bull traps.
As following, each of them will be bigger than the previous.
Current price of Bitcoin on Poloniex is 9852$, minimal price of Bitcoin before next uptrend will be 8800$.
Then, Bitcoin should make uptrend to 10500$, that is our first EXIT POINT (Cashing out your positions).
I will keep updating post.
Thank you for reading it.
Considering we are waiting for rebuy and we haven't saw any serious correction so far, even if we expected with S/L, w we will probably see it as Bitcoin trying to breach 10500 resistance (it's an additional resistance), not main, main will be at 11,500-11,700 value.
We are waiting for price reversal in order to rebuy at 8800$ (aproximately 9000 price would be as good), because projected price would be around 11,500-11.700 (maximum price)
That means (once again) that someone is intentionally buying Bitcoins on this price constantly (and artificially) increasing price.
Those guys will be also the very first one to sell it of course and it could cause price dumping.
Dont rush with rebuy, do it on dip (8800), because as heading toward 10500 level it will most probably fail to breach it and it will make retracement since we haven't saw correction despite price is being pumped.
I would not advise anyone to participate in this HYPE and nothing but the HYPE.
Correction is the only thing we should be interested in.
8800-9000 (but not ABOVE 9000$) would be our potential rebuy.
Don't participate in this "game" of price pumping untill price is being corrected.
THERE IS NO HEALTHY GROWTH.
" this is so obvious" and many many similar comments''
Anyway, that same people believing in bullishnes of Bitcoin WILL END UP DISSAPOINTED.
I would not pay a single dollar for this Bitcoin regarding the situation (even if it goes to 12k from this instance), none of "reasonable" people should not participate in this game called " Bitcoin price pumping"
However, manipulators seem to look at indicators to determine how far they can push.
They now know that a pump works only if it's credible.
So they try to manipulate indicators to persuade more investors to put money in.
And people will think this is regular thing, bullish Bitcoin.
Deception, but very clever.
thanks for your work it is good to read some other sights as from the big amount of other guys
and pls could you tellus something about your duration of timepoints is it based on FIBO time or awhat else?
could it be that the correction is ending approx at the point of 4800 instead of down to 3000 ??
the 4800 are the 23,6 % of f FIBO starting from the low of 154 up to high of 19892
also please can you tell me a possibility for going BTC short e.g. with derivates ( certificate or similars)
which i can handle from europa too ( for example at what broker in US too or some other possibilities)
due too i am from austria and cannot find a proper short for BTC at my brokers
pls apologize my poor english
Every government is talking about regulations but no gov is interested in spending money to regulate cryptos. Once it gets out of hands, i.e. more than 25% of terrorism related payments are being made via cryptos instead of the current 5% level, they will order all of the banks and financial services providers like Paypal, OKpay and others to cut ties with crypto exchanges altogether. China has set an example. Rest of the world has a model and they will follow.
It will happen sooner or later, no matter what whoever says. This is the only way they will damage cryptos. When that happens, BTC will probably lose 99% of its value at that time.
With cryptos, they have another tool to put the blame their enemies. As a bonus, they can and will make big $$$$. Starting with tax, confiscations, auctions, and other ways. They will not shut it completely ... ever.
The show will go on... we will see the cryptos go up and down. Time it right and be patient. Play along and we can make $$$$ too ;)
I totally agree about overall picture explaination and know/how goverment vs crypto in the future.
We could certanly buy very cheap Bitcoin before any serious bullrun.
Confidence in Bitcoin will constantly decrease, so, eventually it could be bought as you explained, so "investors" will have something like at least 200 time ROI.
From 11,700 will go downwards to 8.000.
Few days calm period (which will allow altcoins to grow)
Then bleeding all the way down to 3000 level.