(Verbose write up and structure on Yours.org (in my signature))
Welcome to the future, friends. So many people, all these months, have said this would never happen. Mostly, they said this during times of Bitcoin Legacy pumping. In reality, people do not care about Tether, transaction fees, confirmation times, who Blockstream is, who their backers are, wash trading, or the nature of the ultimate ending of the banks behind Core, Lightning Network.
People care about one thing, which casino token they can ride to make money on. All of their profits are eliminated during correction and the ensuing bear market, and they lose all the money in their accounts, but they couldn’t care less along the way.
Why? Because most people are simply gambling and chasing a get rich quick scheme.
Investors have made nearly 1000% since November 1. Gamblers have likely lost money.
You can decide for yourself whether you want to listen to trolls, shills, and charlatans, or if you want to find better sources of information.
The definition of insanity is doing the same thing over and over again.
Right now, mining profitability has stabilized to equality after being heavily in BTC’s favour for the last few weeks, Bitcoin Cash has been released on Coinbase, and fees and transaction times are absolutely suffocating the Bitcoin Legacy chain.
Shoutouts to everyone over the last month or two who have been following my posts while I made the $3,400 call when everyone said I was retarded.
I also made a $5,500 call at the same time.
We'll see.
What's up and where are we going? Check out my Yours.org post (in my signature) for a verbose write up and optional trade structure.
Post will have:
Trade structure, strats, stops, and targets Bitcoin Cash futures market A possible black swan on the horizon Multiple updates and strategies as price progresses.
== Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
This is looking like a nice bullish flag pattern. Let's see what happens.
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New update to Yours.org trading post. 2 hours or so before Coinbase re-opens Bitcoin Cash trading.
Breakout looking good. You're most definitely in profit if you're following the trade structure.
Happy mooning!
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$4,000 inc.
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Bitcoin Cash is legitimately trading for $4,900 on Bithumb.
Coinbase opens in 30 minutes.
Looks like another run. New update to my Yours.org post.
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For Yours.org readers, we're looking for a 1H candle to close above the target in the post first before re-entry with the 50% of our position that we took profit with.
Bitcoin Cash is $4,000 and it's not finished.
Where are the shills and trolls now?
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New update to Yours.org trade post in preparation of GDAX coming out of post-only.
Not sure when it will happen, but expect fear and greed to be played in harmony.
Hint: They're playing fear right now.
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GDAX opening Bitcoin Cash trading in like 3 minutes, they just Tweeted.
GDAX now live. New update to Yours.org trade thread (in my signature).
Nothing surprising about this. First time any coin is listed on an exchange the price is relatively manic.
Remember Litecoin? That was all Coinbase.
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Further to the Yours post, key support area/add area is going to be in this box.
Don't be afraid of anything. Selling pressure is going to happen. If you think about it, a large player isn't going to take his stack he just got on Coinbase and start market selling.
It's most certainly an attempt to drive down price. Often times, but not always, that's for the purposes of larger players buying cheaper.
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Price bounced exactly in the bounce area above. New update to Yours.org trading post.
We now have a continuation pattern. Let's see what happens.
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New update to Yours.org trading post. Looks like we had a falling wedge over night and things may be looking to bounce and break upwards.
$4,000 is the key area that has to be regained and broken through.
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New update on Yours.org
That's one pattern. There's two others in the post. Ultimately, I do expect a bounce. That being said, BCH is showing some bearish choppiness. This will pass, as it always does, but there may be some sideways consolidation.
Stops and thoughts on risk are in the thread. Stay calm.
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It looks like all markets are correcting together.
Whales tend to do this commonly as the money that went into alts starts to come out of it amidst market sell offs.
Long trades should now be closed/stopped as we wait for the storm to end.
Trade geschlossen: Ziel wurde erreicht
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This is a key level that has to be held, although it does look like all markets will continue to dump. When the storm is over, things will go back to normal, at least for now.
That being said, we need a big bounce to show up here in the $2,800 range. Or at least a rejection of a dip below the prior high followed by consolidation.
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Coinbase does now have Bitcoin Cash buys and sells enabled apparently. Trading was just on GDAX before and retail couldn't buy.
Okay. The market has not continued to crash. This is great news. We may have an opportunity to enter long trades for a move back to $4,000 and beyond
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Sigh, TradingView.
We need a one hour candle to close *above* the 382 fib first, but if we get that, we should at least have a re-test of the 618 at $3,450.
Will update the Yours.org trade thread if these conditions are met.
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New update to the Yours.org thread. We do have opportunities to play a long trade here.
Specifics are discussed in the thread.
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Look where it bounced.
Patience is required.
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Bitcoin is bringing all markets down with it again, from the looks of things.
Fun. Long trades now must be stopped out until a sufficient bounce emerges.
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This is the area we are looking for bounces in as the prior $2,800 range does not seem likely to hold.
We can thank the Mount Finex Tether bots and friends for the drop across all markets as BTC was nuked $1,000 in about 15 minutes.
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Ripple pumps just like IOTA did. Mount Finex XRPUSD pair (Tether) leads the charge.
At least XRP isn't a shitcoin like IOTA.
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Friends,
Don't panic and sell your position amidst calamity.
That is capitulation.
This is why I keep telling you you need a core position and a much, much smaller trading position.
I haven't sold a single BCH yet and I am not afraid.
Stay calm. If you need to sell, sell on the next bounce.
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If you're ever wondering why my targets are conservative and stops happen a lot, it's for exactly this reason.
Better to stop out a $300 loss than get blown away for a $2,000 loss.
Preserving your money is the most important thing.
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^
That is why I say please be calm amidst tribulation.
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Whether we like it or not the crypto bull run is now over. Price action has told us that. From here in the bubble pop pattern is a return to the mean and a bull trap.
If you're Canadian and need a fiat offramp then check out nTrust. I wrote a guide on it here.
This may be the only way a ‘flippening’ can occur.....
BTC is not working; 290 000 transactions backlog with average fees of $55 does not inspire confidence, and does not entice people to believe in it. This may be contributing to the drop. How this shifts from people getting out of a broken coin, faith intact, into a working one is a mystery we will watch unfold.
I’m out with my initial investment & some profit - leaving the ‘House money’ on the table to ride this wave & see where it goes.....
@DVemer, I agree and think you are probably right. I think the 'flippening' or 'cashening' will happen in waves. Just like this one. I grew up surfing and waves always come in sets, just like Elliot waves. This is like water and as we see one body overtake another their waves are intersecting with each other and causing confusion, like the ripples of two different pebbles in a pond.
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@astrologychick,
Nice analogy - 2 pebbles in a pond disturbing each other's signal : )
Before the move from one thing to another there is doubt. Especially if you always thought there could only be the one thing.
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why do you refer to IOTA as a 'shitcoin'?
that project seems to look quite promising, no?