Hello all,
First of all, if you want a more complete analysis, please read my previous publication ( BTC - Resistance line broken but... ) before continuing this post.
As I explained you earlier, I'm closely looking the power of the break out since we broke that triangle.
Here is the chart that I took this morning :
Here is the chart that I just took now 10 hours later :
We are more or less at the same position
This is really not a good sign for a break out my friends...
What are my predictions now ?
The more we stay at the current level, the more probabilities we have to meet this scenario :
We really need to see a huge break out soon or the situation will become critic and a massive correction will become reality !
Look that chart and this little new triangle that I just traced :
I really think that if we break that little triangle with a DOWN break out, it will confirm the Head Fake scenario and the massive correction which should arrive soon.
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 - Ligne de résistance cassée - Mise à jour
Nice!
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Fully agree, a deep correction should come to grow up later on with renewed intensity
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Yes I was thinking it started some minutes ago but we are back at the same level. Let s wait.
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Shit!!! this is crazy! man is breaking all the logics!!!
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I think we'd see more senseless stuff. When a bubble grow too much it also crash too much. ETH actually sent to $279 This is worse than Komodo because KMD actually screwed up their presentation. But Devcon3 is a major event. Dash went downt almost 5% while they are planning to bring down their Tx fees by 10 Times because the ultra cheap Dash is slightly more expensive than BCH and LTC.
Don't get me even started on Metal, Monaco, Metaverse, WTC, SONM, BAT, NEM, TenX, Bitshares and steemit of all things. Only if I had Death Note. I mean I'm pretty smart too. I can take out those senseless basters applying cold hard algorithms into Death Note's killing conditions.
Anyways @cryptopassion Do you see any hope for EOS to keep going? I'm still afraid of the pressure from ICO would press EOS into a longer Cup& handle pattern. If ETH can't stand up to this, we wouldn't have much hope.
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yes, you are 90% right but don't forget sir that we can witness another scenario because it can make a small correction to the trend and fly again just as shown in the photo
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yes this kind of pattern is possible, like many others. However I don't think about this kind of pattern for a break out on a long term triangle but yeah why not.
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sure, anyway we should be careful by expecting all kinds of scenarios to be ready for any sudden move
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I can agree with you on that one. It does not look like a powerful move up out of the resistance point.
A correction might allow BTC to garner some more power for the upward move to $7000.
I would lean more bearish than bullish in the short term.
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What do you consider short term? 24 hours or a few days?
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I would say a few days...a week at the longest.
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Thanks. I only ask as different people mean different things by short term.
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Awesome post! Up and Followed!
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This wonderful post has received a bellyrub 22.61 % upvote from @bellyrub.
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To da moon!
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@misterbitcoin was here in this post !!!
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Have you checked the same trend and ressistance line with other markets? do Bittrex or Coinbase also break the resistance line?
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I think you are completely right, it's like a racer that takes a deep breath to launch like a rocket
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Hey, I just wanted to tell you that you were sending that huge bid to @bellyrub without checking the max. profitable bid. Now you created a financial loss for ALL bidders of this round. You should use https://s3.amazonaws.com/yabapmatt/bottracker/bottracker.html to know when and how much to bid.
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Sorry my friend I was not aware of that tool. I will do it the next time.
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I'm received the upvote and I'm not in lost, so I suppose and hope it is the same for all the biders.
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Others count with the curation reward for the bellyrub. That is why you think you are not in loss.
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Yeah, we all got back what we put in apparently. Your bid was pretty much on point. We were lucky.
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If i recall correctly the triangle breakout should be confirmed by prices (of the corresponding timeframe) close above the line as @hatemmkh pointed out we could actually be seeing a move up.
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Totally agree, there will be a gigantic crash to a 4000/4500 usd level, whales will take profits and the fork will affect the market somehow, a lot of FOMO uninformed investors will likely panic sell as well leaving the market.
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I just noticed this post after I just bailed from Bitcoin into Bitcoin cash. It will be interesting to see what direction it goes but for me the correction will come after the fork when people take profit and try to dump the failing side of the fork.
If/when that happens I can see big gains in the alt coins.
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very much agreed, with great trend analysis.
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btc
Last trade: $8,900.11CADVolume: 627.23260580XɃTLow: $8,900.00CADHigh: $9,240.00CAD
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Your Post is awesome :)
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Thank you for this post! Upvote worthy.
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As the BTC is boosting higher and higher, the altcoins are going down...
People are dumping the coins and rushing to BTC
(See the chart here: https://steemit.com/bitcoin/@hoball/btc-usd-is-now-in-bubble-mode-watch-out)
BTC is getting crowded, so please watch out while enjoying the bubble!!
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Thanks sir
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Great info...Thanks!
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been said it was going to reach 7000. Bitcoin is unstoppable it is moving like a bullett train. Bitcoin cash is upnext keep an eye out
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It seems to me that this is the best point to sell the btc that we hold to get the profit and wait for this long correction then buy again and start another profit journey
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