BCH Pushing too Hard - its Hammer Time and Volatility City
Zooming in on a 5m chart shows that we are still pushing that red line, however we've got enough volatility to keep this run going. We did see that BART formation, but it was quickly resolved as the bulls continue to flip BTC into BCH.
Looking on various off-site charts, we can actually see that BTC is losing its dominance of the crypto market while BCH is staying constant if not growing, and the alt coin "other" category is increasing quite quickly. The ratio of BTC->BCH is still higher than BCH->BTC. The overall market capital of both has increased significantly though, giving the BTC->BCH valuation an extra boost.
Lots and lots of hammers showing that the bulls are trying and succeeding to push the price up. Every close below the last is either a dragonfly doji or a hammer. Good news for those looking to get in still, there is no signs of a stall beyond the slight volatility - i.e. those leaving the market are being replaced just as quickly by new bulls. Volume looks more green than red, and there are constant sizes showing that we've not got an over-push.
RVI looks good, and the V.I.(+) seems to be bouncing every time we see the V.I(-) start to creep up.
I am not suggesting anything, I am just stating what I see. This is not trade advice and I can not tell you what to buy, this is just a hobby for me. I am not an adviser, so do not take what I say as advice, just observations and opinions.
Looking on various off-site charts, we can actually see that BTC is losing its dominance of the crypto market while BCH is staying constant if not growing, and the alt coin "other" category is increasing quite quickly. The ratio of BTC->BCH is still higher than BCH->BTC. The overall market capital of both has increased significantly though, giving the BTC->BCH valuation an extra boost.
Lots and lots of hammers showing that the bulls are trying and succeeding to push the price up. Every close below the last is either a dragonfly doji or a hammer. Good news for those looking to get in still, there is no signs of a stall beyond the slight volatility - i.e. those leaving the market are being replaced just as quickly by new bulls. Volume looks more green than red, and there are constant sizes showing that we've not got an over-push.
RVI looks good, and the V.I.(+) seems to be bouncing every time we see the V.I(-) start to creep up.
I am not suggesting anything, I am just stating what I see. This is not trade advice and I can not tell you what to buy, this is just a hobby for me. I am not an adviser, so do not take what I say as advice, just observations and opinions.
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