jgj
Short

The Big Short? Bitcoin doesn't look too pretty right now

BITSTAMP:BTCUSD   Bitcoin / Dollar
Look at the weekly chart and we see a clear converging wedge pattern, reinforcing my short sentiment at the moment. A big zoom out shows us we're potentially in a weekly wave 3 at the moment with a lot more upside to go, but to me it looks like we need a subwave 2 retrace so that we can push into subwave 3 of the greater wave 3. I don't know how long this might take to play out but it feels like a good time to have a dip is when Segwit 2x uncertainty starts up and we start having more serious talks about what's going to be called bitcoin             , what will be called 2x, etc etc. Notice how the first fib extension takes us perfectly to $10000, a figure that's sure to give an insane amount of resistance naturally too. Hitting the $2500 level would not surprise me either. Let me know your thoughts.

As I said previously I tell my followers about coins I'm in that may not be on TV yet so can't have their own ideas - aside from WTC             which I'm still in and will remain in for the forseeable future, I picked up some EVX             earlier. I'm already in profit, check it out and hopefully you guys do well with it too. Currently trading just above ICO             price.
Kommentar: Note that this is the WEEKLY chart and so is representative of the greater trend. Don't be surprised if it hits the top of the black trendline further along the wedge before making the move down
Kommentar: Note, if you check coinmarketcap's chart, the overall cryptocurrency marketcap (you could think of it as an index fund) and the market cap excluding BTC both need to finish wave 5. Overall will happen first via money going to BTC, then alts will have their time to shine. After that is when we'll see this deep retrace.
Kommentar: bounced off our channel, looking good so far but B2x is a while away so I'm not certain this is the end of the bull run. I'm expecting short for now but if the daily candle closes above the channel the idea is void
Kommentar:
Kommentar: This idea continues with the chart/idea linked above. Still on track, trend line has held
Kommentar: Safe to say this is invalid LOL
what do you think about alts? recovery began already. do you think they will fully recover to old levels? also i would like to know what you think we can reach with WTC until end of the year?
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jgj Sabo87
@Sabo87, I'm not sure about alt recovery, but I hope so. Perhaps not to their old x/btc values but their dollar values will probably go up for the good alts. In terms of WTC I don't really have a target, but for the moment it's all I'm holding. Their latest announcement has a timeline for their releases for the next few months, you could check that and just decide to buy in close to each one - I'll be holding through it all because WTC is the coin I believe in most in crypto atm.

If you want a low MC coin to investigate look into CAG - I would have invested already but I'm concerned with their token structure - they may have trouble with the SEC like Monaco has. If you're ok with that risk it should be a good coin to be in short term at least - I personally don't invest in coins that I'm not 100% behind because it will make me nervous during dips.
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I like your idea. I have gone into fiat and will wait for the next correction and also holding some everex.

Have a good one
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