Long
#Hypeoftheweekend! Make a quick buck on Gold.
Updated
Let's start of with the fact that I think Bitcoin Gold is a shitcoin with no future.
However, I am here to make money and that's what I am looking to do with the hype of the weekend, which I believe will be Bitcoin Gold (BTG).
Fundamental
Bitcoin is correcting and people have cashed out large profits. Many of those will be looking to speculate to make more. "I made money on BTC, why not invest in another much cheaper Bitcoin and see if I can make even more money" is something I think will be going through some heads.
We are seeing money flowing into Bitcoin Cash today, partly because of this I believe but Cash actually has a fighting chance against Bitcoin and I believe it will increase more. That's another story though. This one is about Bitcoin Gold, and I have no hope for it long term.
This is pure speculation on my side obviously, but that's how we make money and I believe Bitcoin Cash will be a good bet over the weekend as we are leading up to the launch.
12th November is the date that Bitcoin Cash will launch and coins can start flowing. https://bitcoingold.org/bitcoin-gold-launch/
Most likely we will get hype up until launch and top out a little bit after the coins start flowing and exchanges start opening up trading. From there it will be straight downhill.
We have already begun to see some price increase today, and it may go higher then my target at 375 USD, but I feel like that's a safe place to sell out for almost an 100% gain.
Technical
New market, there aint that much to go on.
I have added a ghost feed to project around what I think the chart will do.
This is with no doubt a risky move, but putting stop loss below 150 USD or trendline will provide a great risk to reward ratio!
Numbers
However, I am here to make money and that's what I am looking to do with the hype of the weekend, which I believe will be Bitcoin Gold (BTG).
Fundamental
Bitcoin is correcting and people have cashed out large profits. Many of those will be looking to speculate to make more. "I made money on BTC, why not invest in another much cheaper Bitcoin and see if I can make even more money" is something I think will be going through some heads.
We are seeing money flowing into Bitcoin Cash today, partly because of this I believe but Cash actually has a fighting chance against Bitcoin and I believe it will increase more. That's another story though. This one is about Bitcoin Gold, and I have no hope for it long term.
This is pure speculation on my side obviously, but that's how we make money and I believe Bitcoin Cash will be a good bet over the weekend as we are leading up to the launch.
12th November is the date that Bitcoin Cash will launch and coins can start flowing. https://bitcoingold.org/bitcoin-gold-launch/
Most likely we will get hype up until launch and top out a little bit after the coins start flowing and exchanges start opening up trading. From there it will be straight downhill.
We have already begun to see some price increase today, and it may go higher then my target at 375 USD, but I feel like that's a safe place to sell out for almost an 100% gain.
Technical
New market, there aint that much to go on.
I have added a ghost feed to project around what I think the chart will do.
This is with no doubt a risky move, but putting stop loss below 150 USD or trendline will provide a great risk to reward ratio!
Numbers
- Buy: 195 USD
- Sell: 375 USD
- Stop Loss: 150 USD or below trendline.
Trade closed: target reached
Jackpot! This trade turned out very succesful.Closed on target 375USD with a gain of 92%.
This was a nice prediction, the chart almost painted itself after my ghost bars. Up a little quicker then I thought, and then right down again to test the trendline.
However, I aint touching Bitcoin Gold again. Don't think it has any future, and happy with my profits.
Note
Look at that! BTG has jumped up again.With all this new money flowing in and every crypto seeing green numbers it's understandable.
When there is a possibility to short BTG, I am going to make a new play on this market.
As I see no future for BTG.
Now we have BTC, BCH, BTG and the new BCD (Bitcoin Diamond).
The latter is much more interesting than BTG.
I see it as highly unlikely that BTG can maintain a market cap of 6 Billion when there is 3 bigger Bitcoins out there. It's poised to fail and I will try to make some dough on that :)
Note
Is there anywhere to short BTG?Holy crap this one could go low.
I think it will be the number 1 crash if cryptomarkets take a huge hit.
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