TraderCobb

Good day everybody, it’s trader Cobb here, it’s the7th of November and don’t forget to follow me on Twitter @TraderCobb alright so I want you to get rid of these fibs here Bitcoin started to pull back a little bit by the look of it and I want to introduce you to a couple of things that I think are beneficial the first of which being and look you know what we’ve been seeing what we saw last I know this markets very dynamic I know it changes very very frequently and now it can be pretty wild up there that’s kind of what’s been getting pumped full when I say pumped I mean negatively pumped you know getting hurt or not doing a great deal for this most recent Bitcoin bull run what we want to look at is what happened around the last faulkner we didn’t see a massive pullback but the last fork we did see some pretty pretty hefty movements in some of the alts just before or a couple of weeks before some some money said a pump in from what I’d call smart money now I’m not saying that’s happening right now but it’s it seems to be that it looks like that may be the case okay so of course Bitcoin down three point six eight percent alts up a heck of a lot more than that some of them up a great deal know what I’ve what I said in the past not so much publicly what I’ve said some friends in the past is around these these times where we see the you know Bitcoin dip after a big run especially leading to a fork and we see the old start to move really really well to the upside is is basically just to have a look at which alts are performing the best and the reason I look at doing this is because it’s I believe where the smart money goes from people’s cashing out as Bitcoin and moving across to the optical and move too fast and it’s done very well for me in the past so I mean just coming across here I mean just on this picture here metals up 14% we’ve got a TX up 19 percent a lot of twelve thirteen percent sort of stuff you know we’ve got Etherium that’s obviously one that we should keep in mind it’s actually starting to show a bit of a bounce here I’m certainly not saying this is the bottom I don’t know people ask me where’s the bottom where’s the bottom I don’t know we don’t tend to know the bottom until the bottom is being gone I don’t try and pick bottoms or tops I try and take the chunk in the middle but it is starting to look a little bit more bullish here and Etherium definitely looking very strongly and just sort of scrolling through I mean keep in mind these are just the coins that that I like to look at I keep an eye on I mean co-found that’s up quite a decent amount there to 31 percent so yeah it’s just about going across and checking out the coins that you like and seeing which ones where the money’s flying to just to see you know maybe it’s worthwhile putting some money into there or building your position or whatever it might be so back to Bitcoin the question of the day where are we going to as always I use my fibs just quickly I’ll show you there’s two up options really a short-term pull back to 60 to 562 50 back into that buys and back into the old hires would be nice back into this fifty to sixty one percent fib so that’s what I would suggest if we’re going to see just a bit of a bit of a weed dip off of the back of this pullback before maybe a continuation to the upside leading into that fork the other option is really drawing in the full fibs and going hmm where are we gonna get to and it’s 5000 I mean it is 5000 it’s that’s the most obvious number for me it’s around 5,000 anyway I’m not saying it will hit on the nose with the old highs it’s in between the fifty and sixty one percent fib I mean look last time I did the same sort of thing it worked exactly the same way I’ll show you what I mean and draw it back down to the old time highs were here I’d said 3000 here’s three thousand here you know the only thing with three thousand was it actually line up perfectly with a 61.8% fib doesn’t quite line up this time but 61.8% fib with the old highs absolutely perfect I’m calling very very similar activity again why because history tends to repeat itself I’ve only got history as my measure and that’s what I’m sticking to it’s a bigger picture I think we’ll see five thousand eventually I don’t know if that’s going to be the start of this I don’t know if this is what we’re starting here again like I said I don’t try and pick tops short-term you know 60 to 50 6,500 or 60 to 50 longer-term back to 5,000 if I can get down to 5,000 I will be a very happy buyer guys follow me on Twitter take it easy how you will bye for now

By Trader Cobb -

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