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BTCUSD is ripe for Sell off?

BITSTAMP:BTCUSD   比特币/美元
I believe most of BTC             holders are anticipating the fork for a free Bitcoin             GOLD             . But what are the possible market move after the FORK? Well you can see on the chart possible reasons why I am thinking that Bitcoin             is almost ripe for sell off or correction. Although many speculations from influential persons on the finance industry believes that bitcoin             can go as high $10k within the few months to come,. but market does not move that way because of peoples Psychological reactions. Market does not move straight away to $10k thats not gonna happen. The market always retrace and correct. So if you haven't bought from the retracement from the past, this time you might wanna consider watching $4,800 to $5,000 for a good price to enter.

As far as technical analysis is concern, BITCOIN             is looking bearish . This could be further confirmed with one bad news, it could be either fake,rumors or legitimate news. Bitcoin             did finally get the attention of most people including big financial institution, and you know what these can do, so since the price is too high for bitcoins             . we may see some of them try to make the bitcoin             price gets lower for them to join the bandwagon. I may not really correct on my analysis but what matters most is BTC             will continue to increase its price.

Another possible move that can make BTC             fall its price is, when people start to move their btc             to altcoins after getting their account snapshots on their BTC             holdings as what bittrex is doing before the fork. And of course once fork is done, we may see most to start selling btcs             and trading it for other cheaper alt coins.

These are just my views on the market both fundamentals and technicals analysis, I may not be right or I am , so its for you to decide how you will deal with the market conditions that are present now. You need to take risk and decide your own.


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