emergency BTC update 11.01.18
I don't like what I am seeing today. BTC has completed a big correction for red wave 2.
Why is that bad? Well because it means the timeframe in which BTC is likely to drop is increasing. It also means more down days for alt coins incoming and possibly lower BTC targets.
I don't like it, but this is a BINGO! again. In my last post I did warn you:
Don't be fooled by this support @ 14200$. BTC is likely to show two more lows, bringing it down into my target zone between 11,000$ and 8,000$, where I will start buying into alt coins again. I have cash ready and waiting for that.
I have to adjust this target zone now to 10,000$ -7,000$...
This is how I predicted it:
I can't wait for this correction to be over.
We need to be patient and focus on the midterm future and not the short term (next two weeks). I know that this is super annoying for many of you, but you need to get over it. It is part of the game. No gains are possible without the correction phases.
And if you did not buy BTC @ 19000$, you are one of the lucky guys...
After this huge correction, it is likely that a news will arise to justify the count. This is going to be the biggest and most time consuming correction ever in BTC. So after it is done, there is a big possibility for a prolonged rally to new alltime-highs (and altcoins will profit the most from that).
.png)
If you think this to be useful information:
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
.png)
MUST READ!
DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.
Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...
Have a nice day :-)
That is the best time to buy more and more btc.
This kind of reminds me of what NEO went through. Hopefully this Korean incident would draw attention to Bitshares and Privacy coins. There is too much desire to get rich and this would mean a true alt-coin boom. I'm almost feeling euphoric. IMHO we could see BTC marketshare dip below 25% in 1-2 months.
I wish I had a real job to make some fiat to BTFD.
I see that you have been resteeming a lot and getting a high rep. Steem could make you more money than a real job. Don't beat yourself up. You will be fine.
At the current STEEM/SBD price I'm actually making slightly more than a McDonald's employee in my country. Unlike flipping burgers I'm actually enjoying 99% of my time on steemit. Still..... nothing is ever really enough. If it was, we'd still be living under rocks worshiping fire gods.
Fire gods. Me likeeeee.
V you will be fine trust me.
The lords of the 19th century colonial aristocrats lived pretty damn fine lives too. They just didn't have internet, steemit, video games, movies, anime, manga, ice-cream, Halloween candy, theme parks and damn fine music.
İ see some people getting over 1500 dollars per each of their posts. You will het there in time.
Do you know how I can buy BTS directly with GBP Fiat? Or is that not possible right now?
https://openledger.info/ had fiat gateways for USD, EUR, CNY but they were temporally closed. Normally I just buy Dash on Cex.io and transfer to wherever I trade (mainly Binance) Dash always confirms in 15mins and it's super cheap. CEX.io supports GBP. I've also heard many good things about http://uphold.com/ from Dash community. Try those two for the time being (or try an ATM if it is available)
dont think its possible just yet. Bank transfer Euro to Coinbase, transfer to GDAX, buy BTC and send directly to Bitshares. Hope that helps
Thank you, appreciate it! I've had nothing but hassle with Coinbase and Coinify but Cex.io seemed to work!
Encouraging for the long term, good time to grab some cheap alt coin investments
South Korea To Ban Cryptocurrency Trading, Raids Exchanges, that is the new:
https://steemit.com/bitcoin/@dragosroua/south-korea-to-ban-cryptocurrency-trading-raids-exchanges-markets-down
Yes I have read it this morning. News arise to.... you know the drill.
Bitcoin will rise again and it will be a surprising all-time high. Be patient!
Ironic how the meme presents trump as the one who tells you to hold. Because the mainstream media also tell you that crypto is in a bubble.
Well, I don't know how much everyone knows about BTC or not. But one big issue with it is how it processes Blockchain transactions. The fact that it keeps a record, that can be accesses by those in the know, I.E, government, means it's not the safest transaction in the world for those looking to circumvent, IRS or whomever haha. There are other currencies, at lower dollar point I might add, like Ether, that are a much much safer DC to use and transact with.
This is not a promo for Ether, I'm only using it as an example. But I would be silly not to point out, that it's base or foundation is stronger than BTC and therefore has a much much higher growth potential. As we speak, it's being incorporated around the world into payment systems, both banking and business, because of it's more stable structure.
Because of those aforementioned structural problems for BTC, I foresee BTC possibly collapsing over the next 3 - 5 years but dropping significantly before that, over the next 1 -2 years. However, there will definitely be another more stable and safer DC to take it's place, the only question is which???
Forgot to add this last night when I wrote this. Lite coin is also a really good DC to get into right now. It's more stable and way more secure than BTC. And might I also add, at a significantly lower dollar point, so much easier to invest in right now as well!!
Anyway, just adding some food for thought.
I remain hopeful that you are wrong but I do fear that you are right. BTC has gone too high too fast and a correction was always on the cards. It’s annoying as I wanted to sell a portion of my holdings while we were at the high levels a few weeks ago but due to exchange issues, I was unable to do so! I’m still heavily up but it is difficult watching previous paper gains melt away!
I can’t wait for BTC to drop to new lows :)
U deserve a down vote :P
Me too, especially since it is the worst performing blockchain. Hopefully we will see new highs after lighting.
Maybe. Weekly BTcusd 50ma is at 13000 so there is some support there. 250ma is around 11500. I’m hoping we just bounce around here flat while we consolidate. It’s less stressful lol.
Wow, I seriously would have never expected BTC to get that low again- and honestly it may not get sub 8k but it’s possible.
I’m content holding for the mid term- I know that my investments will pay off eventually —and knowing that is good enough for me.
No panic selling for me. Buy the dips and swim in the profits.
Enjoy the vote and reward!