BITCOIN (BTC) Topping Range: $7,000 to $9,000
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 $7,000 before the onset of a correction. Often, these diagonal patterns end at or below its starting point.
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
With the pullback we've just had, it's clear we're moving on to a new top.
i guess it's going to go up until 25th oct
That would seem the logical path and then possibly a correction or maybe it will just keep going until Segwit2x fork ?
I wonder if the rise will continue after that for the second fork in November too. Wonder if one should sell one's BTC at USD6000 levels or wait for a 7000$ rise.
Thank you!
I am not lucky. because it does not have bitkoin for sale. while the current price is at a high level
A BIG sale could be arriving:
a very drastic increase
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?
Yes. No, I'm not crazy. The only thing is that time line could be different.
Hmm, what factors would make everyone bail to such extreme levels when confidence in adoption and awareness is kicking into gear?
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?
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.
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.
RIP my alt holdings.
Haha I know the feeling !
Thanks for sharing such an important things
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@haejin, could you please update on FCT and/or MAID? Thanks!
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 ?
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..
This wasn't the point of your comment, but vaccines are science, not religion. Anti-vaxxers, that's religion.
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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