In my last analysis of BTC I mentioned the possibility that we´ve had already finished the fifth wave (EW). And the price has rosen to new highs.
So, is the analysis completely false?
I do not know the future - I´m not a prophete. So everything is possible: rising - staying - falling prices.
I can imagine that a lot of investors and speculators wanted to see if the introducing of futures on bitcoin (not physically backed) will help the price to newer highs.
Now, after CBOE and CME has introduced these derivatives this music is out. Not much impact on the course has been seen. Volume is falling, so do MACD and RSI - from very high niveau!
Could that be the beginning of the correction?
I think the price can rise a little bit more til Xmas, perhaps we´ll see some new ATH. Relatively it wouldn´t be enormous. Is it worth to take the risk?
I stay to my last analysis. A correction is very probable in my eyes.
Then should I sell my btc now or keep holding or buy more?
Luettis
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@yangvanny, Most investors are in since several weeks an months - so there is no reason to panic. But for those who are in only a few days they should place a stop order below the last fib retracement at 17.300$. And of course it´s always the same question: long term investor - or short term speculator?
yangvanny
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@Luettis, sorry for same question because I just new to BTC and other Cryptocurrency. I bought small amount BTC during July 2017.
I spent ~ 1K usd bought BTC at price ~ 3800$. I have sold some BTC out to get back my principle 1K$. the remaining profit I am keeping it as hold. I always seeking for help from other expert opinions for my better investment in BTC as well as other crypto currency.
thanks for your value comments to me
Luettis
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@yangvanny, congratulations for your good investment in july! That makes more than 400%. Think of diversifcation of your investment! There are very interesting altcoins. Some of them do not have a direct correlation to BTC or have even a negative correlation.
BTC has seen a fantastic rise and one should not be very suprised if there were a correction.
I recommend altcoins with real value, as Ethereum (it´s a token), DASH, Monero, Bitcoin Cash, ....
yangvanny
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@Luettis, thanks. what's your idea on BTC Lending? i.e Bitconnect, Hextracoin,...
KairiChan
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@yangvanny, i thing those lending markets are good for those that want to hold there coin investment long term. you can make alot more from trade in the short term just playing the 1day candles. reports on bitconnect are that its a scam or ponzi scheme. i would do my research before trying that out first.