[situation awareness] Bitcoin likely to make a big market movement soon

[bcredeur97]

I know it's kinda already started but just in case anyone hasn't noticed the big outcry from the possible chain split and stuff; it's really tearing the bitcoin community apart. And as such it's well timed with the ending of the bubble bitcoin is in... 

 

It crossed the uptrend line today. Just sketched out the resistance zones where it will likely bounce from on the way down; though i don't believe it will go very far below 1000 unless something HORRIBLE happens.

 

https://bitcoin.org/en/alert/2017-07-12-potential-split

Quote

On Mon Jul 31 2017 19:00:00 GMT-0500 (Central Daylight Time), the Bitcoin block chain may experience what is known as a chain split. This is when a portion of Bitcoin’s nodes run software that another portion of nodes are not fully compatible with. As a result, some nodes may propagate confirmed transactions that other nodes may not accept or recognize. This may result in unreliable confirmation scoring for an unknown length of time. This means that any bitcoins you receive during this period could disappear from your wallet or be a type of bitcoin that other people will not accept as payment, until the situation is resolved.

 

 

Just want to make sure everyone here is aware of the situation. Not gonna downplay bitcoin or anything, this is just a market movement to me. Just helping the locals here on LTT to make smart decisions with their money

[Unimportant]

It badly needed a correction anyway. Was way too far above the 200DMA. Technically it should undershoot as much as it overshot, which I hope it does... It's good for the longer term if the weak hands get a good pounding when they get too excited, resets sentiment.