Weekly also looking good if we can hold on to close it out.
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Price is testing the bottom of the daily channel, either we bounce soon or we're going much lower, i'm still bullish for now (segwit2x demonstrating its incompetence is a very good thing in my book):
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Still bullish, this looks like a falling wedge to me (on the daily): Hanging on by a thread though, gotta bounce soon.
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Price fell below all kind of support. Going to at least the 100 MA which is around $2000. Still bullish on bitcoin but price cna go as low as $1600-$1700 first.
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Went down to $2000 as mentioned, fell below briefly, but buyers stepped in:
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Lots of BIP91 signalling, segwit2x team starting to communicate w/ core, talk of a willingness to wait 12 months on the HF, very bullish. Epic 1d candle forming:
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lol realizing i put the litecoin chart link by accident, here is the right one:
@MuradAli, Bitcoin is in the middle of resolving a multi year scaling debate and there a dozen different ways it can play out, no one knows what is going to happen. How it plays out may be more important than my or anyone elses chart. But more generally, you can not just blindly follow other peoples charts to trade, you will lose. If you are following me to try to make money without developing the skills to trade yourself, might as well not follow. Sorry if that's harsh.
Anyway, if you were following the updates to this chart you would see my last snapshot showing i was expecting a nice bounce around $2000 back up into the triangle:
So we had the bounce, next I am/was expecting sideways down in the triangle for a bit (whcih is happening now) and then either a break out higher or down to new lows. I wish I could tell you which is going to happen, but if have no friggin clue, follow what is happening with BIP 148 vs Segwit2x etc, its essential. The market is very sensitive to news right now.
Thats pretty much all I can tell you, other that when my opinion changes I do my best to update my charts. So when i feel more confident of the next move or hear about news etc I will try to keep you all posted. But I am not a financial adviser, and I cant teach people how to trade, they must do that themselves.
stewdamus
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Do you have sources on the news of the HF postponement?
nakov
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@btc_joe WOW - didn't know that: "segwit2x team starting to communicate w/ core, talk of a willingness to wait 12 months on the HF, very bullish."
This just has exceeded all my expectations! I read a few articles, but didn't find exactly this information - restored communication between miners and the devs - that is MEGA HUGE NEWS! Put off 2MB blocks HF for at least a year - that's AWESOME! OMG! MOOOOOON!
btw - do you have some sources for your statement above - I would like to see it with my own eyes!!! :)
Thank yooooooooou!