Bitcoin report 300617 - Are we ready to break higher?
Is Bitcoin finally ready to break the 3000 mark again?
The purple trendline is the one to watch after the black trendline below it has been broken.
As long as price action does not form a lower low below 1, we will still be bullish near term.
The 1234 breakout pattern is still valid at the moment.
The next possible scenario is price action retracing right below the 3k mark again.
The difference between the 1234 and ABCD pattern is that:
1234 pattern charts the possible hight of where the price might hit after a breakout of a trendline
ABCD patterns spots the possible area of the pullback. At that point of time oppotunity to buy again will be available, having in mind the price reaching point 4.
The 3k point also marks a psychological resistance area, with high probability of failure to break, forming a double top.
News update
Fidelity Raised $9 million worth of BTC in 2017 Source: Coindesk
Segwit2x to realease new codes tmr Source : Coindesk
Usual Disclaimer
Dear steemians,
For my steemians that are new here, I chart and update possible scenarios. Anyone telling you they can chart once and that will happen definetely, you have to link me to him/her. Over the years, charts to me are constantly updated as price action forms new scenarios etc, if you are trading on my chart and expecting guarantees, you will be disappointed for sure. "Triangle formed yesterday cound most definetely become a rectangle today" But I will always point out the highest probability scenario to you.
*I am not a guru...
*These chart and infomations provided are my personal view and ideas on the market, use it at your own risk.
*Trading is risky business. You and only you are responsible for your trades. Do trade with caution.
*Trade with money you can afford to lose, not the money you and your family needs to survive on.
*Trading is all about consistancy, there is no holy grail that takes you straight to heaven.(let me know if you have found one)
PS:
Follow me if you like my analysis.
Comment to discuss or what pairs you will like me to chart
Resteem if you would like to help me gain followers
Upvote? If you want to toss me a penny
I am a financial anayst, writer & traveller
MY CURATION TRIAL HERE
This is my very own curation Trial, please feel free to follow me, I upvote responsibly only on truly unique content that could be missed out due to the overwhelming number of posts.
By following me here you are able to gain some precious curation rewards when I upvote responsibly on unpolished gemstones!
This post received a 2.3% upvote from @randowhale thanks to @amazonpricecheck! For more information, click here!
Didn't new about Fidelity. Good found. I hope so. I read that 21 July is an imporatant date for the Segwith 2. Don't know the exact details.
August 1st i think will be the more determining factor for BTC and subsequently ETH. If BTC fails the SW2 public eye then it will devalue as money shifts into ETH
Thank you very much @makeithappen & @christopher-ryan for having a discussion in my post on BTC.
That is what I hope to see more, rather than upvotes. Discussion, I will always upvote 100%.
Most of the time, markets are always forward looking, whichever direction most people think it will go, it would had gone. By the time public determines if it is +ve or -ve. The big boys would be moving the opposite direction.
Example bad news:
BTC takes a further dip. Most people will panic sell.
Big boys will accumulate.
Therefore, by looking at the market direction before the release, we can gauge a rough outcome(:
I think that August 1 will result in a dump regardless of the outcome of the fork. Most investors does not even know what will go on at August 1 and will just take the profit and come back after the dust is settled.
I agree 100% but it will happen fast. I suggest putting stop limit buy orders on Gemini/GDAX for major dips in BTC. I mean the coin aint going away but its value will suffer but wont matter if you can pickit up at $1200
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Amazonpricecheck from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.