Nights Watch by Afrikoin

[Afrikoin]

I know we going up.

But i still expect at least a retest of $750 - $800 before a great entry for a 25% profitable move in the opposite direction.


THis current rise was a good trade, I have been surprised at how strong it has been. I had targets for $1090 on this bounce (if we did not break $900s, which we didnt). Looking at some of the targets out there, i have seen max $1120.

I just saw a wild prediction of $1300 (if we break $1125) <<< I doubt this will happen.



This seems like a correction IMO. because i did not see 5 impulsive waves up from the bottom on the 30 minute and 15 minute chart when it fell. This is standard to be certain of a change in trend reversal.

So now, I am in cash.

Trade cautiously

[Afrikoin]

john bollinger indicator is bullish

source: https://twitter.com/bbands/status/846396371133382656

see comments on his tweet. Some folks disagreed with hime based on HF fundamentals.

[Afrikoin]

In hindsight I pretty much sold at the absolute top of the previous uptrend, see update March 07, 2017.
Unfortunately the ETF news made things messy. This was an example of buy the hype sell the news.

Note to self: always listen to Morecoin Freeman, stick to the plan - no exceptions.

So after the hefty correction, here comes the next uptrend:



I read some bearish analysis from the EW-guys. I have to respectfully disagree. New all-in moment is here. Happy trading to all!

(BITCOIN PRICE INDEX $1,017.41)

[Afrikoin]

4h Follow-Through: BTC, ETH, DASH Ep. 5

https://www.youtube.com/watch?v=z93lIGx_nic

[Afrikoin]

Bitcoin Price Analysis: What Position Are You Planning For?

https://bitcoinmagazine.com/articles/bitcoin-price-analysis-what-position-are-you-planning/




"As a trader, you need to ask yourself, what position do I want to be in before, during or after this event? As a long-term holder, you need to ask yourself, do I want to liquidate my holdings and sit this whole thing out until the situation resolves? I feel most traders will play this short and many holders will liquidate. We are already seeing continued selling pressure since the newly established all-time high."

[Afrikoin]

"A hard fork contingency plan should include simple horizontal resistance and support zones using a large amount of price data."

source https://bitcoinmagazine.com/articles/bitcoin-price-analysis-what-position-are-you-planning/

[Afrikoin]

[Afrikoin]

Great read for bullish forecasts.

Balanced.

Shares bearish forecasts too.

Myself: I am bearish in the coming weeks. I actually quite surprised there are traders expecting a retest of $1350. That is delusion in IMHO.

In the article, the writer says

"I’d expect resolution around April 12 with a target of ~$1350 around mid-May."

Does anyone really believe the negative sentiment is over? ANd that we have enough buying interest to take us to pre-ETF highs?

C'mon!

Let's be real and rational.

Open to discussion and alternative view points please!

Bitcoin Price Analysis: What Position Are You Planning For?

https://bitcoinmagazine.com/articles/bitcoin-price-analysis-what-position-are-you-planning/




"As a trader, you need to ask yourself, what position do I want to be in before, during or after this event? As a long-term holder, you need to ask yourself, do I want to liquidate my holdings and sit this whole thing out until the situation resolves? I feel most traders will play this short and many holders will liquidate. We are already seeing continued selling pressure since the newly established all-time high."

[Afrikoin]

Screenshot of overall market sentiment at this point

[Afrikoin]

Bullish chart alternative

source:  https://www.tradingview.com/chart/BTCUSD/gvrWN2j1-BTC/

[Afrikoin]

Screenshot of overall market sentiment at this point

Wave B characteristics

source wikipedia https://en.wikipedia.org/wiki/Elliott_wave_principle

Wave B: Prices reverse higher, which many see as a resumption of the now long-gone bull market. Those familiar with classical technical analysis may see the peak as the right shoulder of a head and shoulders reversal pattern. The volume during wave B should be lower than in wave A. By this point, fundamentals are probably no longer improving, but they most likely have not yet turned negative.

[FiendCoin]

It would be suicidal for BU pool operators and investors to push through a contentious HF. They really have nothing to gain and everything to lose. They do not and probably never will have enough community support for a fork to BU. I believe the stalemate will continue until either some compromise is reached with miners or users push through SegWit.

[Dafar]

I'm still in cash Afrikoin, but I'm a little worried... BTC wants to be bullish, the community isn't as worried about the HF drama and at the end of the day neither side wants a contentious fork which is clear. Even bitmain knows economic majority is behind core/segwit and his mining dominance isn't as scary as some made it out to be. Although I don't see a reason for the price to push past $1300 right now, I also don't see it falling to $700-$800.... I wish I got back in at $900

[Afrikoin]

I'm still in cash Afrikoin, but I'm a little worried... BTC wants to be bullish, the community isn't as worried about the HF drama and at the end of the day neither side wants a contentious fork which is clear. Even bitmain knows economic majority is behind core/segwit and his mining dominance isn't as scary as some made it out to be. Although I don't see a reason for the price to push past $1300 right now, I also don't see it falling to $700-$800.... I wish I got back in at $900

What you are experiencing is trader's emotion. That is how market corrections trap traders.

Sit it out and be patient.

The market will soon trend again.

[secousa]

I'm still in cash Afrikoin, but I'm a little worried... BTC wants to be bullish, the community isn't as worried about the HF drama and at the end of the day neither side wants a contentious fork which is clear. Even bitmain knows economic majority is behind core/segwit and his mining dominance isn't as scary as some made it out to be. Although I don't see a reason for the price to push past $1300 right now, I also don't see it falling to $700-$800.... I wish I got back in at $900

What you are experiencing is trader's emotion. That is how market corrections trap traders.

Sit it out and be patient.

The market will soon trend again.

+1. This is what got me in the 2013 bull trap ~$900. Be careful.

Leaving a BTC address here solely for account recovery. 13CcdYdeTLH9GxKWpeNh7aAoFokbUTQZRu

[Afrikoin]

I don't care about the coindance stats, the community has already firmly rejected BU. Look at nodes

Bitcoin Canadian nodes release statement opposing bitcoin unlimited "We support the activation of Segregated Witness as an immediate solution to Bitcoin scaling and as a fundamental component of a long-term capacity increases roadmap."

https://medium.com/@francispouliot/canadian-bitcoin-economic-nodes-unite-against-bitcoin-unlimited-412786fb4bb6



So are we bullish on no hard fork or is this news already in the price?

[york780]

Some site states that we need only 51% BU support to force a hardfork, but others are saying that we need 75% or 95%. Really confusing. If its really 51% then we are all really really screwed.

[Miz4r]

Some site states that we need only 51% BU support to force a hardfork, but others are saying that we need 75% or 95%. Really confusing. If its really 51% then we are all really really screwed.

Stop worrying about this crap. BU is not going to fork, and especially not at 51% which would be suicide. Part of me hope they do so BU can die a violent death and we can finally move on from this.

[Dafar]

lol at 51% hard fork... c'mon now, no one in their right mind would think that's a good idea 

I'm still in cash Afrikoin, but I'm a little worried... BTC wants to be bullish, the community isn't as worried about the HF drama and at the end of the day neither side wants a contentious fork which is clear. Even bitmain knows economic majority is behind core/segwit and his mining dominance isn't as scary as some made it out to be. Although I don't see a reason for the price to push past $1300 right now, I also don't see it falling to $700-$800.... I wish I got back in at $900

What you are experiencing is trader's emotion. That is how market corrections trap traders.

Sit it out and be patient.

The market will soon trend again.

oh you are a wise one Afrikon! I will be patient 

[york780]

lol at 51% hard fork... c'mon now, no one in their right mind would think that's a good idea 

I'm still in cash Afrikoin, but I'm a little worried... BTC wants to be bullish, the community isn't as worried about the HF drama and at the end of the day neither side wants a contentious fork which is clear. Even bitmain knows economic majority is behind core/segwit and his mining dominance isn't as scary as some made it out to be. Although I don't see a reason for the price to push past $1300 right now, I also don't see it falling to $700-$800.... I wish I got back in at $900

What you are experiencing is trader's emotion. That is how market corrections trap traders.

Sit it out and be patient.

The market will soon trend again.

oh you are a wise one Afrikon! I will be patient 

I will buy the shit out of bitcoin, because i know that the price will be low for 3-5 years and after that we go moon, according to the CORE roadmap.