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Todays topic is just trying to understand bitcoins short term and long term projection.

Welcome to the Weekly Crypto Market Roundup, Every week I go through the (TOP 40) Cryptocurrencies (mainly chart analysis) alongside my personal take. On Fridays, I update the TOP 10 and 5 every day after. My analysis is long-term investment grade analysis and although I recommend a lot of buys and sells, I don't invest in all (very picky). You can see the ones I'm invested in at the bottom of this page (COINLIFE PORTFOLIO).
-daverex

I want to help build a community of knowledge, we are still in the early days of this tech revolution. Please ask any question and I will see to point you in the right direction. Also If you have any chart requests, I am happy to provide them!
#coinlife

Bitcoin Update

https://www.tradingview.com/i/DmL8cY09/

I keep telling myself that when Bitcoin contracts other coins will expand (logic would dictate money flow) the problem is that people are pulling money directly out of the ecosystem into their banks and $ exchanges. When bitcoin drops it causes a domino effect to all the alt-coins. Lessons learned... I had two good solid plays going on this week (deCRED & Lisk) both were at turning points and ready to rocket... well bitcoin decided to take a dump on the market, its crazy the amount of influence bitcoin has. Traditionally in normal markets, you have index funds and as a rule of thumb, you never invest (no matter how great the opportunity) if the index itself is short. But, as I've said in the past, Bitcoin is a coin, not an index... what the hell. Well simply put most coins are traded into bitcoin so a drop in bitcoin value brings down coins nominal values, my assumption is that although speculators buy into alt-cryptos in (bitcoin) they still measure their wealth in nominal currencies. Rather than letting the Alt-cryptos correct in bitcoin (upwards to current valuation)... people panic, this causes further domino effects to a crash. Now I'm ok with crashes and cheaper prices... it just pisses me off because It throws off my strategy! ahh. So this being said, from now on... when bitcoin is in a down cycle (as it is currently and possibly for the next 5-56ish days, any buy signal for an alt-crypto will be cautioned due to a farcled market.

Ok to the chart... I'm expecting bitcoin to break down at some point within the next 5 days but can take up to 50ish, if it does we need to be ready to buy the hell out of it. It is possible that It could come down as far at 1500ish. Those prices will not last. Once we purchase long again... hold and coast to 10k+ Jan. 2018.
... Good Luck Friends!