SELL SELL SELL!!!!! That is the only thing I read on Twitter & the web + hear on Youtube. Screaming, shouting and telling each other they are right, protecting their lovely followers from the biggest dump since 2014. So about time to make my own chart, all this FUD should stop! :-) Fact: BTC won the X2 WAR yesterday, before it began! That's huge. Conclusion: BTC stays KING and it will stay king (for now).
This looks about right to me, BTC will vaguely follow your purple arrow.
BensoloTrader
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Agree, BTC is king. But look at the gains in alts right now. Bytheway i hate the term “alts”, its future is much more. BTC marketcap is slinking, volume is going down.
Bitcoin needs a correction badly, no FUD, its overbought, after a healty correction it will rise again, and fast. I wouldnt risk buying bitcoin now.
Holding bitcoin is always good, but we will see a correction ( end of wave 5). I will buy back lower. Thanks for sharing!
surfz
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@BensoloTrader, normally I would agree, but not now.
1. BTC should stay above support so the new people that recently entered the game will not panic;
2. If BTC drops it will drop hard, the new people will panic and sell (go back to fiat);
3. If BTC drops below support, Bitcoin Cash and Bitcoin Gold will grow very fast. A flipping becomes reality than again;
4. The big parties that entered the BTC game recently, want a stable BTC.
Conclusion: Choose your king now, let Bitcoin Gold and Cash grow on their own, let's not support them.
Thank you for your reply,
Aloha
surfz
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Overbought are all the ERC-20 tokens IMHO. ERC-20 tokens that will survive are the once that have their own chain in the future (for example OMG). Running your business together with other businesses on the Ether blockchain, is like sharing 1 SQL database together lol.
It has been some time now since the 2X cancellation, and alts didn't gain as much as was expected, confirming my speculation until now.
tchat
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@surfz, I hope you're going to take a cleanly rational look at the support levels on your own chart and give up all the dogmatic phrases about who the king is, and so forth. Nobody at TV will look down on you for going to fiat and getting back in at a more ideal level. I think you should ask yourself what the chart projects out to once that $6800 breaks. You may be totally right, or it may be that this is not the time to look at BTC with religious fervor. I learn a lot from the veterans here and hope you're doing the same.
surfz
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@tchat, thx, I will keep that in mind. By the way, I made a new chart... could you look at it?