UPDATE: BITCOIN JUST SET A NEW ALL TIME HIGH ABOVE 4600
Bitcoin has broken out of a Bull Flag and is looking very solid right now - currently 4475 approaching all time highs just shy of 4500:
I remain long from average of 4150 looking for an imminent break to new record highs. Let's zoom out to the daily:
As you can see, we have channel top/261.8 confluence on September 1. I think this is a little ambitious, but maybe not. As I said earlier in the month, as long as this channel holds, we are going to 5000 sooner or later ... and at this point it is looking like sooner rather than later - the recent correction could have been a lot deeper and it wasn't - the channel floor wasn't even tested.
Beyond 5000, we have the 200% extension of the recent correction at 5385, which also just happens to line up with the 300% of the June-July correction. Beyond there, we have the 261.8 just shy of 6000. Sky's the limit really.
Congrats to everyone who's ridden this up from 3K with me - I'm kind of struggling to measure targets and type right now so I'm just going to leave it there and go and watch it rip XD
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All stars and sign are aligned for a major US market crisis and subsequently global recession. Governments will respond as usual, printing more money so we can expect Bitcoin to easily hit 10k by next year. This is just the beginning folks. Take a look here: https://steemit.com/bitcoin/@cryptoeagle/cryptocurrency-wallet-users-vs-facebook-users-where-are-we-now-making-the-case-for-the-million-dollar-coin
Thanks for the great post Bulleth!
Wow . . yea, I woke up to this great news and article this morning!!!! woooo hoooo. 5385 would be a great price to get to. And the alts aren't taking too bad of a hammering either. Straight bull market for the time being. Thanks for this analysis.
Hellz yeah. I'm so glad I didn't chicken out on that aggressive correction last week, kept it cool and just trimmed a little. Spewing I didn't have balls to buy the dip though lol
It's almost like every day that goes by, the guys who are predicting $100,000 bitcoin in 5 years are getting less and less crazy.
John McAfee predicted $500k in 3 years because he believes as the crypto currencies gain more and more value, fiats will be devalued heavily. If the 100k-500k price will be because of a heavy inflation and a kg of bread will be $100-$200, then 100k-500k won't be much. Let's hope that won't be the case.
Yes let's hope.
But more than that, let's STEEM ON, it's probably one of the most powerful movements in the crypto space!
What seems interesting is the fact that when bitcoin goes up bitcoin cash is going down. Seems that these two coins behave as substitute of each other witch is not true for other main coins that seems that follow somehow the trend of bitcoin price.
Please may I have an opinion form your experience regarding bitcoin and bitcoin cash from an investor point of view (in terms of market and price not technical facts of blockchain).
Here's a poem I wrote about Bitcoin cash:
" Twas the night before chainsplit, and on every exchange
Lots of traders were stirring, converting their change
Bitcoin was bid to the chimney no care,
Not a creature could scare us; not even a bear.
For is it not just a shitcoin this bitcoin called cash?
We'll be selling it quick and watching it crash.
Try split the network we'll see who laughs last,
Remember Eth classic fell flat on its arse.
With 4 cents of the network you won't find a block
viaBTC can go suck a cock
I'll take your free coins so don't get me wrong;
Be selling them quick: moar fuel for my bong
It will all just be dump, there won't be no pump
and poor Haipo Yang will be proven a cunt
So whatever you do, when your coin splits in two
Remember the second is nothing but poo
So sell that shit quick, click click click click
Don't be that guy left holding the shit
You'll have smelly hands and wreck all your plans
So flush bitcoin crap as quick as you can "
Hahahahahah. Thay was great. One suggestion, you have to add poetry afer politician in your status. Great!
It IS ripping higher.. Just crushed an all time high, although it's since pulled back a bit. What an incredible run by BTC
Yep, I started writing that at 4440 - when it hit 4475 I just posted even though it wasn't ready lol
What a day in the markets, what a day!
I keep buying every couple of weeks and I am blown away. Thanks for the analysis. Choo Choo.
Awesome news! The only way is up :D Thanks for sharing, have a nice day n' #keepsteemin !
Let it Rip up
Great report as always mate. Enjoying watching this unfold with your commentary 👍
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it's so strange that's why get so many upvote, I wish we could give a upvote.
