Short

New Buyers Prepare to be Baptized in the Fire

Updated

Coinbase is adding 100k users per day.
New buyers will enter before the fork to get 2x coins and avoid the burden of deciding which coin to hold.
These new prefork buyers are guaranteed to hold through the fork (~Nov 16) come what may.
Friday, Nov 10 is a bank holiday.
Bitcoin dumps love long weekends. 3 days during which bank deposits cannot come through to provide buy pressure.

Long through this week, then looking for a massive retrace starting on Thursday, Nov 9 that will trap new buyers and expel weak hands. Whales will re-enter for their prefork coins sometime shortly before the 2x fork.

Gotta love bitcoin.

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Note: Arrows are directional only. Dates are most important in this chart.

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S2X Cancelled. Great news for bitcoin, but trade still in effect. Watching for more FOMO leading into the weekend, followed by the retrace.

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blowoff top looks like it hit just shy of 8000. green arrow was a bit optimistic. weekend retrace seems in effect. good place to catch a bounce coming up here pretty soon.

immediate downside targets are ~6500. if weekly closes red on sunday night, downside opens up to 4500-5000. Nov 16 date no longer as relevant for entry so play accordingly.

good luck

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downside targets are ~6200*

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bitcoin dumps love long weekends B-)

ptbrodie

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