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If segwit has not activated by the end of one retarget period after 15 November 2017, segwit will cease to be eligible for activation.
So we have time until November to reach 2k$ or higher, then doom (because the fuckin' miners won't let Segwit happen)... good to know. |
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Bitmain needed cash for their new data center they invested heavily last year. They sold customer bitcoins. Nothing unusual there. What is confusing is that PBoC came to rescue Chinese short sellers. If we break $1350 next stop will be >$10,000 bitcoin.
Permabull dreams... First 935$ should hold when support will be tested again. And if it will hold, later we may break the ATH, and reach about 2200$ in 3 - 5 months, followed by a 40% correction. Edit. 935$ not 985$, my bad. |
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Just arrived this from Circle to my email:
Potential Bitcoin Changes
We wanted to provide you with some important information regarding potential changes to Bitcoin that could significantly impact bitcoin held in your Circle Account.
As described in our User Agreement, “Bitcoin is a decentralized currency that operates on open source software protocols which can be used, modified or adapted by anyone... As a result of the decentralized nature of Bitcoin it is possible that sudden, unexpected or controversial changes (“forks”) can be made to Bitcoin.”
Based on recent developments in the Bitcoin ecosystem, it now seems likely that one or more forks of Bitcoin may occur in the near future. Any fork of Bitcoin may have a significant impact on the value of bitcoin and your ability to access the bitcoin you hold with Circle.
What should I do?
The only way to avoid the potential negative consequences of a Bitcoin fork is to not hold bitcoin. Just go to Settings > Currency and convert your balance to dollars, pounds or euro (availability is based on where you live). You’ll then be able to hold those funds with Circle or cash out instantly.
Have more inside on this email but i only copied the 2 paragraphs, but can you understand the impact of this to the people ? This can be the reason of today's dump ?
Sooo...everybody is invited to dump their bitcoins... I better place my bids looow!  |
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Google trends still lists Nigeria as having the worldwide highest interest in bitcoin, but that is fading. Here is the Nigerian interest level in bitcoin over the last year.  |
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I am totaly noob on trading but i was thinking that the odds are high at the moment that Btc may start crashing tomorrow...
I was thinking what if i short 1 Btc for example on bitmex with a leverage 20x to x50 or 100 x during the crash ?
Is it very risky ? Cause for me it looks interesting ... what are the risk?
All advises are welcome...
There is no crash, just a correction that could take another couple of weeks to end (including strong bounces). And if you want to get rekt, go ahead and short with 20+ x leverage. I won't short with more than 5x. |
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Head and shoulders pattern on the 4 hour chart This is actually the beginning of an a-b-c correction on the 2h - 6h chart after our EW wave 5 top on the 2h - 6h chart This one has taken the form of a head and shoulders Now what is important here is that because the nature of EW is fractals, the same fractal going on on the weekly and 3 day charts ie a wave final wave 5, will also correct in an A-B-C fashion! Question is, what shape or form will it take?  Doesn't look like 4h chart to me, more like 5 min chart... IMO the right shoulder will take several days to be painted. |
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After all these pretty charts, what is your stance Afrikoin ? Are you currently in Bitcoin or in fiat ? I assume it's the latter ?
Fiat. Waiting for another drop before i get in. My fiat if off exchange, but i want to get it into an exchange ASAP. Just in case the COIN ETF gets approved. Im not sure. But i would not bet against it 100%. My opinion after looking around is we will see more down. Perhaps $800, perhaps $720, worse $500 [img]https://i.imgur.com/RJBoNuT.png If we drop to 500$, even if there will be a strong rebound after that, then the bullish trend might be broken and eventually we could see sub 200$. I hope that won't be the case. lol! I hope IT IS the case! I have just recently built up clients for a mini - hedge fund. I would like to have a second shot at $200s with the kind of money i could pull in as capital. PS: i take 30% of profits up to a promised target. It might not happend of course, but $500 is realistic. I am closely watching the hard fork/ segwit debate. The old noise is coming up, and segwit needs 95%. Garvin came out of the woods. I suspect we will make a compromise. Well, there is a very good reason why I hope IT WON'T be the case! If the peak of January was THE wave B, and we'll see 200$ or lower as bottom of THE wave C, then for 1 - 2 years after the bottom there will be few good trading opportunities (mostly sideways and slow uptrend). On the contrary, if we are now within 1 of historical V (my favorite scenario), then we should see 2k$ - 3k$ within a year and maybe > 10k$ another year later. A lot more profit to be made in this scenario!  |
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After all these pretty charts, what is your stance Afrikoin ? Are you currently in Bitcoin or in fiat ? I assume it's the latter ?
Fiat. Waiting for another drop before i get in. My fiat if off exchange, but i want to get it into an exchange ASAP. Just in case the COIN ETF gets approved. Im not sure. But i would not bet against it 100%. My opinion after looking around is we will see more down. Perhaps $800, perhaps $720, worse $500  If we drop to 500$, even if there will be a strong rebound after that, then the bullish trend might be broken and eventually we could see sub 200$. I hope that won't be the case. |
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12h MACD has crossed into negative on Chinese exchanges, but not on western ones.
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It's only midnight there and they were awake 3h ago when this happened
Why would they sell more, and why would they sell at all?
Why would you go to a store to buy goods which you can't take out of the store? Makes perfect sense. Well, maybe the whole point is to make Chinese volume less frenetic. less volume, less influence. their volume will probably go from 40% to 10-20% shortly It is better for us in the west. Thanks, China! The PBOC claims its actions are intended to make Bitcoin price less volatile. Ironically every action it's recently taken has created a huge short term dump. However, who's going to deposit Bitcoins to an exchange that's frozen withdrawals for the next month? If nobody deposits that's less Bitcoins China can dump to suppress the price. Bullish. Here is what have happened. During first meeting, one month ago, Chinese bitcoin exchanges were forced by PBoC directly or indirectly to sell part of customer bitcoins to suppress price. Of course, they were assured that the bank will financially compensate them if price moves in the opposite direction. Surprise, surprise, but not really. Price moved in the opposite direction! PBoC took huge loss and worst of all the exchanges now don't have enough bitcoin liquidity to meet customer withdrawals. So, the only logical step forward is to block bitcoin withdrawals under pretext that it was ordered by the bank for AML issues. If bitcoin price stays above $800 Chinese bitcoin exchanges are toast. PBoC will never truly compensate them. IMO it's risk management by Chinese traders. They can't withdraw BTC because of AML, and panic dump for CNY. |
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BTW, the drop in price we are seeing now is just Chinese traders selling some of BTC to celebrate Chinese New Year.
Price is not falling, there is no conspiracy behind this minor decline. After day or two we should see upward trend coming back.
Or there could be high frequency traders that can't trade anymore because of the fees, so they are cashing out. |
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$900 = buy with all your fiat?
940$ would be cheap, 900$ might turn out quite expensive. |
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The next 2 days are critical. If there will be a successful pump, eventually leading to about 1050$ - 1100$, then this will be a EW one, and after months of sideways we'll see 2000$ or more.
If however the pump will fail, then we'll see a major correction, down to about 600$ and the possibility of a new bear market.
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Let's see where the support is now. the next 24 dumps are critical. The next several hours (from now) are critical. If we'll have more dumps and test (might even break) support at 5200 CNY, even if it will bounce, a very bearish scenario would become possible. If however there will be a small pump (that would hold for a while), then further support testing is unlikely to break and should result in a large triangle that should break upwards, with target around 8000 CNY. The small pump happened, so far seems to favor the bullish scenario. But remember, the PBoC can trash the bullish TA anytime. |
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Let's see where the support is now. the next 24 dumps are critical. The next several hours (from now) are critical. If we'll have more dumps and test (might even break) support at 5200 CNY, even if it will bounce, a very bearish scenario would become possible. If however there will be a small pump (that would hold for a while), then further support testing is unlikely to break and should result in a large triangle that should break upwards, with target around 8000 CNY. |
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Let's see where the support is now. |
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Oh shit, after reading this and realizing the possible implications, I will have to be extra careful after opening a long... Planned to open one in a couple of hours...  What possible implications exactly? A possible 10x drop in Chinese volume, how do you think that would look? Bullish? |
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Oh shit, after reading this and realizing the possible implications, I will have to be extra careful after opening a long... Planned to open one in a couple of hours... |
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If this was an ABC, then it's probably completed the C, and now it's building a triangle. Support could be tested over the next days, so a bit cheaper than right now is possible.
Aw c'mon mastertzup - you were willing to throw out $660 when we were at $1100 and many called you crazy! I'd love to know whether the past few days market activity has shifted your number up, down, or unchanged. Not enough data right now to make an educated guess, I need to find out more accurately how fast the market is moving (or mistake a subwave for a wave). |
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Congrats to tzupy as the first trader to hit 100 trades and is yet in the top 5 on the scoreboard currently. Can't win at trading Bitcoin, eh?
He's at 102 trades. I'm next with 51. That bear is a machine! I just begged Rynin to add a TROLLBOX to the game - what do you guys think? A machine has no emotions, I do. The little failed pump spooked me (previously similar failed pumps were followed by large corrections) and I missed out on the real pump. Out of my trades, a lot are crappy if not idiotic. Couldn't make up my mind to enter a position... If I would do the same on an exchange I would bleed money because of slippage. |
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