Pullback so let's take the opportunity to add some more to our Long position.
Sean Vengan Professional Trader and Trading Educator
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Kommentar
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If this one works, we are aiming for a Big Hitter 6.5:1 Risk Reward trade
Anyone else just see that swing from $285 to $300 in the span of ~3 minutes? Very very fishy market behavior going on right now, lots of noise from BTC. I think it's just an easy excuse to get distracted and stray from the plan.
Groovy57
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@mrmeeseeks, Great point Sir, I'm hoping for the best. I think we will hit target during 1 hour. Let's stick to the plan, and believe that it will be a great shot ;).
@SEAN_VENGAN some fundamentals to consider, credit to @IvanLabrie for this. Interested in your perspective:
"The terms Bitfinex published for the upcoming B2X fork may have started a chain reaction that is putting pressure in all coins that are paired against BTC, as people borrowing BTC will also owe B2X tokens after the November Fork.
Pair this with a lack of liquidity in BTC from people withdrawing to receive the Bitcoin gold, and you have an explosive catalyst for a short squeeze in everything against BTC.
If that is true, then ETHBTC (and presumably ETHUSD since its so closely tied with ETHBTC), and everything paired with BTC will melt down, while BTCUSD could reach heights between 6300 and 9700 quickly, leading to a spectacular blow off top by Nov. 18th, as people return to exchanges to drop their B2X and chaos breaks loose, with not 1, but 3 BTC forks in existence competing for the top dog spot.
Miners will be severely divided by then, and I think the outcome could have disastrous consequences in the short and intermediate term, but, after the bear market ends, we might resume the uptrends in these instruments. Best of luck if shorting here, keep a tight stop and let it cruise. At least, swap alts for BTC and wait for BTC top if long crypto."
@janor123, Altcoins were down during a period before bitcoins ATH. Much like this. Not as intense perhaps but still. It could trigger new investors and more fiat into the markets as a whole. That is my hope at least. Today already the altcoins have recovered their alt/btc ratios a bit. Without much of a hit to the BTC price.
EtherSwinger
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It touched 286... now coming back up. I see a flag for I got on the minute chart.
In the mean while BTC might be seeing a double top around 4800 with stoch divergence.
The $ is coming back to ETH
EtherSwinger
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@EtherSwinger, looking for like a wedge now rather than a flag... regardless, same outcome