Hello all,
As I explained you in my previous publication, one of the scenario was the double top (Bearish Scenario) and it just happened :
As you can see, we tested the previous top around $7600, we broke it with a Head Fake and the powerfull correction started.
Here is a chart with a smaller timeframe to see better the move :
We should now consolidate a little but I think the drop will continue and my objectif to test the support line in orange and perhaps also the blue is again very valid!
Take care all, the market is very nervous and we could have huge moves, up or down !
I wish you massive profits,
Cryptopassion.io
Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Version française ici : [FR] BTC - Double TOP confirmé - BAISSE
only cause segwit2x cancelled.
Hehe
I'm a technical analyst and for analysts, the news come to confirm the charts and not the opposite but anyway the result is the same ;)
The news is usually the excuse!
In fact, in this case, BTC rallied almost 300 points after the news hit, and then dramatically reversed, so, initially people were saying the SegWit2x cancelation was good, and then, a couple of hours later, everyone was saying it was bad. https://steemit.com/bitcoin/@kingscrown/segwitx2-cancelled-it-seems What do we have to rely on then? Was it good? Bad? I'll let everyone else argue that and I'll just stick with the charts! 😁
@cryptographic agreed! One thing are the charts and the other are the news that can be much easier manipulated, and depending who mentions the news are people who believe on it and other don't. upvoted your comment. @gold84
The news came first, although the analysis is solid
Yes but you don't think it is strange that the news just come when we are testing the top?
But anyway, everybody has different opinions about this theory ;)
Take care all
You saying that segwit2x was cancelled because of the chart? and not the other way?
Lol nope,
I'm saying that the news is well known since long time and comes just at one moment that we have a special pattern on the chart yeah...
But I know everybody is not agree about this theory, no problem if you are not my friend ;)
dont worry i know what you mean! ; )
Totally @dreamrafa. It amazes me when people only rely on charts. I get it, but I heard the news of he cancellation of the segwit2x fork an hour before it went maintstream and was reflected in the charts. As a result, I got out of BCH before it tanked. Info + Charts = Win. Either on their own = Half the picture.
@cryptopassion agreed. Your analysis is technical following patterns, and that is later confirmed by the news and current status of coins. Have you ever thought in what is your % of predictions that run similar to reality? Or percentage of predicting correct? @gold84
I see a lower entry point for BTC.
I just converted a bit of it to a couple alt coins...including adding a bit more steem.
I see more potential in the altcoins at short term. We are at the top of Bitcoin and the good new has been cancelled. Anyway, never a bad idea to keep some BTC ;)
Not unloading my entire position...not even close. I usually covert some BTC into an alt coin and then use my fiat to replace the BTC.
At the moment, I will hold off on replenishing the BTC since it looks like there will be a better entry point.
As always thanks for your analysis.
Again, when I thought this market is predictable, it proved me all wrong.. Had to quickly change my position from btc to altcoins.. I hope I don't regret it later..
The steem is very nervous. There is a huge volume and a up trend in progress.
We need to keep an eye on it
@cryptopassion thanks for the analysis, I believe it will be good to wait a bit for BTC to touch a minimum perhaps $6,000 to buy some BTC, before it starts climbing to new highs. And now, time to tae profits or recover with alts investments. upvoted and resteemed. @gold84
I hear the institutions are sitting at 7k, we'll see.
@thomas.steem check this out
And what am I supposed to check? He never did any publications :(
Yes, it is a very important precedent for the future of bitcoin and will lead to more diligence with regards to upgrades. Thanks for the update!
People are going to get killed on alts. They see the ALT/BTC chart and see #moon and #lambos; but they forget that BTC/USD is tanking at the same time. So the ALT/USD price is effectively the same, and you're just setting yourself up for a world of hurt. Always, always, always think of your ALT transactions in USD/your-fiat; and try to buy ALTs with USD/your-fiat unless your goal is to horde BTC and go long.