BITCOIN (BTC) Topping Range: $7,000 to $9,000

haejin (88) in bitcoin • 7 years ago (edited)

SUMMARY

Bitcoin has hit a new ALL TIME HIGH at around $6,005. The near term target is $6,200 which is the 1.618 Fibonacci distance.

It would be ideal if time was given for the Altcons to go fully phasic with Bitcoin. If the Bitcoin target is around $7,000 to $9,000; the altcoins would certainly get that time. The chart below shows an ending diagonal pattern for Bitcoin with roman numeral white waves (i,ii,iii,iv,v) showing the projected trajectory. IF the diagonal triangle is correct, prices could still overthrow towards $7,000 before the onset of a correction. Often, these diagonal patterns end at or below its starting point.

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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**

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7 years ago by haejin (88)

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adamantine (53) · 7 years ago

With the pullback we've just had, it's clear we're moving on to a new top.

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2 votes

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beiker (64) · 7 years ago

i guess it's going to go up until 25th oct

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1 vote

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batfinkler (40) · 7 years ago

That would seem the logical path and then possibly a correction or maybe it will just keep going until Segwit2x fork ?

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suneerchowdhary (25) · 7 years ago

I wonder if the rise will continue after that for the second fork in November too. Wonder if one should sell one's BTC at USD6000 levels or wait for a 7000$ rise.

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bitcointv (40) · 7 years ago

Thank you!

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nasrud (64) · 7 years ago

I am not lucky. because it does not have bitkoin for sale. while the current price is at a high level

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haejin (88) · 7 years ago

A BIG sale could be arriving:

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5 votes

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nasrud (64) · 7 years ago

a very drastic increase

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steemmatt (69) · 7 years ago

You're suggesting that BTC will peak and then freefall to $1750, bounce to $3,500 and then freefall again to $500?? Is this serious?

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haejin (88) · 7 years ago

Yes. No, I'm not crazy. The only thing is that time line could be different.

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2 votes

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steemmatt (69) · 7 years ago

Hmm, what factors would make everyone bail to such extreme levels when confidence in adoption and awareness is kicking into gear?

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1 vote

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haejin (88) · 7 years ago (edited)

I don't know. Elliott Waves states that an event or news shall arrive to justify the forecast and never the reverse.
Maybe government regulation of the centralized exchanges?

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3 votes

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steemmatt (69) · 7 years ago

I know what comes up must come down, but $500 just seems a bit extreme. Well, if it does, the world will quickly buy that up on or off exchanges.

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haejin (88) · 7 years ago

Actually, if that level of price happens, Bitcoin will be hated and detested and called the bubble of all bubbles that popped. So, buying will only be done by the courageous.....the ones who know how to be greedy when others are afraid. And these same braves probably sold at current levels or near $7k because they learned to become afraid when all others are greedy.

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3 votes

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dasflikko (30) · 7 years ago

RIP my alt holdings.

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batfinkler (40) · 7 years ago

Haha I know the feeling !

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anupbose (54) · 7 years ago

Thanks for sharing such an important things

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minnowpond (62) · 7 years ago

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dweller (27) · 7 years ago

@haejin, could you please update on FCT and/or MAID? Thanks!

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batfinkler (40) · 7 years ago

Which bitcoin do people think is most likely to survive as King BTC, Bitcoin Gold or Segwit2x ?

Bitcoin Cash had quite a bit of hashing power support - does anyone know how much there will likely be for Bitcoin Gold and segwit2x ?

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trinicoinmaster (46) · 7 years ago (edited)

The same sentiment isn't shared...
Segregated witness vs increasing block size has been a controversy in BTC for quite some time...

Bitcoin Gold is just an altcoin. The folks who didn't leave for Cash will continue to follow Bitcoin Core...
At least for the most part... People pick either side of a controversy and then go into sheep mode and follow whoever they started following... Almost never rehashing.

Sounds like I'm preaching about religion or politics or veganism or vaccines... I guess they're all religions, if you really think about it..

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cannonball6 (46) · 7 years ago

This wasn't the point of your comment, but vaccines are science, not religion. Anti-vaxxers, that's religion.

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trinicoinmaster (46) · 7 years ago

The point was that people pick either side of the controversy and then go full sheep...
Soak up that group narcissism. My side is better than yours. No research. No thought...

My favorite is how primitive people get over sports.

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steemit-bank (59) · 7 years ago

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