thomas58700

BTG Gearing Up for Feb 10th

BITFINEX:BTGBTC   BTG / Bitcoin
I have outlined the triangular "compression" of BTG             . It has been slowly dragging along since my last post on BTG             . I've been making sure not to miss the break-out for BTG             , but it seems we have lots of time to watch it settle at its base. If you zoom in to recent developments on the BTG             chart you can see a sharp pin down that completes another part of the triangle I have been waiting for, but it did not quite touch the fib line as expected so we could see it come down further to 0.01446 before getting back on an uptrend. I'm expecting on Feb 8-10th we will see movement for bitcoin             gold             as that is the end of all of the structures it has been creating. By then, hopefully we will have bought at the bottom, then just be waiting in an uptrend till a break-out situation.

The green flag shows the point where it broke the major triangle. What usually happens with bitcoin             derivatives is that they break major triangles, dip down a bit lower, then climb back into another triangular pattern that was not first observed (hopefully the one drawn is the second triangular structure).
Remember to keep an eye on bitcoin's movements and recent news.

Thanks for reading, have a good day.

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Kommentar: Targets will be posted when we see BTG find the bottom.
Kommentar: I think we've already touched the bottom, Binance freezing up yesterday didn't help with seeing it bottom out. I said I would post targets so here are the short term targets if you are watching the short term trade, align a fib retracement to these to see its movements better: 16000, 17500, 19000, 21000, 23600
A lot of folks banking on bitcoin gold... looking forward to seeing updated targets
Antworten
@srnassar, Since BTG and BCC are a yearly hold for me, targets are irrelevant as the rise expected is what one is supposed to hold through. That is mainly why I have not specified targets and day trading through violent oscillations in the market, if we see them, isn't a great idea as it'll make you miss out on trades such as what happened to a lot of people with BCD. Targets for these coins become irrelevant pretty quick in break-out cases, at which point you need to actively monitor the trade to determine when to buy/sell unless you plan on grabbing a bit of profit and getting out which again isn't a great idea when you could just hold.
Antworten
srnassar PRO thomas58700
@thomas58700, thank you Thomas for taking the time to explain. And if I understand your entire analysis correctly, now would be a great time to enter a position. Essentially buying now is buying the bottom, or at least close to it. Correct?
Antworten
@srnassar, Yes, this should be close to the bottom, but I am still waiting
Antworten
Thanks so much for your very thorough analysis. Are targets the same as you January 18th post or have they changed at all. Thanks again -Peter
+2 Antworten
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