Hopefully, people following me have a reduced drawdown, and are in good shape to continue following this powerful trend.
Best of luck,
Here's $XBTEUR Nice breakout here, and a perfect bear trap.
Remember I said 2525 was critical, it got breached, and bang, we have a downtrend failure, and now a weekly mode building here. It is ready to move, needs confirmation within next week or later.
My take is that they will go through with it, since no one really wants a chain split, it just is bluffing, if some miner suddenly talks it down, or just fearmongering, when twitter 'celebrities' talk about Bitcoin Cash, etc.
For the most part, I'm pretty sure ViaBTC is badly positioned and aiming to get rid of losing shorts, judging by their constant attempts at fud, but the thing is that Segwit locked in via BIP91 signaling, and I'm dead certain Segwit2x will gain traction.
The only risk is by November, when they hard fork, IF they hard fork. That could make my long term forecast time expiration a reality, by forming a top and a 2 year correction in $BTC.
This still doesn't matter now, since in the short term the market will most likely shoot up like crazy after August 1st, hitting the 3500 to 7000usd range.
@IvanLabrie, yep, BCC is a shitcoin, it is not a hard fork...it is a fork off Bitcoin, chain split from Bitcoin. Using the moment 1st of August, taking advantage of the timing to push out another irrelevant shitcoin. I heard it is supported by Roger Ver, Jihan and ViaBTC Chinese exchange where the latter even collects future options on BCC price. WTF. The goal is to confuse and make n00bs sell and lose their bitcoins fearing a real hardfork (it's NOT!). Most people I have talked with swear they will immediately sell the shitcoin. Also, based on the link above there is a good chance you will corrupt your wallet if trying to get both as BCC uses the same libraries and folders as Bitcoin. Also, another warning, that when you enter the Bitcoin wallet's private key into BCC wallet to get your free shitcoins, you could get your Bitcoins stolen: https://twitter.com/Excellion/status/889...
A massive amount of a hot steamy pile of turd."
Building for a move up here...people in panic again, with every little downside action in price, interesting. I'm holding longs.
Another prediction: $BCH never mines a single block, Segwit activates before that, $BTCUSD shoots up Hodl and wait patiently
We have hit the short squeeze target, there are higher targets in the short term as well: Waiting to add again.
On track, fundamentals panned out a bit differently than expected, but the outcome is the same, we will rally for weeks to come until we have negative fundamentals again, and potential for disruption of the status quo...
I see sideways/down action for now, Goldman has been covering BTC lately, in and of itself a worrying signal, but, I think we won't see a long lasting top until we hit my target zone in like 7-8 weeks.
During sideways periods, there is a lot of fake signals, but we can gauge the reliability of the signals, or at least, reduce risk after a losing streak starts until things are clear again...