Bitcoin Cash - Strong Hands and Long-Term Focus Advised
Updated
In light of TradingView locking pretty much all of my posts, the majority of what I say will go on my Yours blog, in my signature below.
Content in the body of the TradingView post will remain sparse. Follow me there if you want to read more.
Regardless of all the noise on Twitter and Reddit and Discords/Telegram/Slacks the last few days about "Bcash" this, and Roger Ver that, don't lose sight of what Bitcoin Cash is: a community-activated hard fork of Bitcoin to solve both the high transaction fees and slow confirmation times caused by the 1MB block cap and the infiltration and subversion of Bitcoin Legacy by Blockstream, who is entirely backed by a group of really nice guys like Axa and Mastercard et al.
You know, a really similar group to the "big money" that's coming to Bitcoin Legacy that you're somehow supposed to benefit from, even though you're the source of profit on their winning trades.
Give yourself an education on how Bitcoin Cash came to be, and make a decision for yourselves as to what you want to do with the future:
reddit.com/r/BitcoinMarkets/comments/6rxw7k/informative_btc_vs_bch_articles/dl8v4lp/
Right now, as far as BCH price action goes, there is nothing bullish to discuss.
We trade at the support line of the Kumo on the 1H chart. Tenkan-Sen has crossed well under Kijun-Sen, and all oscillators are showing no signs of reversal.
What does have some signs of good news is that we are in an immediate falling wedge pattern, which does often reverse at the bottom, break out, and lead to a new run. We are also inside of a larger ascending triangle, where upwards breakouts often happen, and towards big gains. That being said, we have no bullish indicators that this is going to happen, so we look for bounces and reversal patterns in the key $1400-$1420 zone.
If we do not receive a bounce at this area, the next chance is $1320. Anything further than that on any sustained time scale will confirm a very bearish trend reversal.
Bitcoin Cash is a coin that you should be holding based on your belief in the long-term fundamentals of the coin, where it came from, where it's going, and what its community is trying to achieve.
If you don't believe in its fundamentals, sell now and move on to something else.
==
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party: (dafoh.org/petition-to-the-united-nations)
Content in the body of the TradingView post will remain sparse. Follow me there if you want to read more.
Regardless of all the noise on Twitter and Reddit and Discords/Telegram/Slacks the last few days about "Bcash" this, and Roger Ver that, don't lose sight of what Bitcoin Cash is: a community-activated hard fork of Bitcoin to solve both the high transaction fees and slow confirmation times caused by the 1MB block cap and the infiltration and subversion of Bitcoin Legacy by Blockstream, who is entirely backed by a group of really nice guys like Axa and Mastercard et al.
You know, a really similar group to the "big money" that's coming to Bitcoin Legacy that you're somehow supposed to benefit from, even though you're the source of profit on their winning trades.
Give yourself an education on how Bitcoin Cash came to be, and make a decision for yourselves as to what you want to do with the future:
reddit.com/r/BitcoinMarkets/comments/6rxw7k/informative_btc_vs_bch_articles/dl8v4lp/
Right now, as far as BCH price action goes, there is nothing bullish to discuss.
We trade at the support line of the Kumo on the 1H chart. Tenkan-Sen has crossed well under Kijun-Sen, and all oscillators are showing no signs of reversal.
What does have some signs of good news is that we are in an immediate falling wedge pattern, which does often reverse at the bottom, break out, and lead to a new run. We are also inside of a larger ascending triangle, where upwards breakouts often happen, and towards big gains. That being said, we have no bullish indicators that this is going to happen, so we look for bounces and reversal patterns in the key $1400-$1420 zone.
If we do not receive a bounce at this area, the next chance is $1320. Anything further than that on any sustained time scale will confirm a very bearish trend reversal.
Bitcoin Cash is a coin that you should be holding based on your belief in the long-term fundamentals of the coin, where it came from, where it's going, and what its community is trying to achieve.
If you don't believe in its fundamentals, sell now and move on to something else.
==
Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party: (dafoh.org/petition-to-the-united-nations)
Note
If you liked this analysis and/or profit from this trade, please sign the petition to end the organ harvesting of Falun Gong practitioners by the Chinese Communist Party. Please spread on social media as well, if you'd be so gracious. I thank everyone for all the tips. I really appreciate the kindness and know the money doesn't come easy.
Note
A much more verbose post, including my thoughts on the recent developments with Tether, is in my post on Yours. Yours is a great platform because:
1. All transactions are settled directly on-chain with Bitcoin Cash. No need for layer2 junk like Lightning Network.
2. All deposits and transactions are settled directly in a BCH wallet I exclusively control. Yours has no access to it.
3. Ground floor of a great, up-and-coming platform, that was also one of the earliest adopters of Bitcoin Cash.
4. For a Tipjar, they accept 9 different cryptos for deposits and settle in BCH. It's a great system.
Make an account and send yourself $5 worth of crypto and vote on some posts.
Heck, post some content yourself and make some extra cash in the meantime.
Note
Update to price action on my Yours. Fundamentals are what matter the most during any rocky or bearish price action/trend/market. Did you know Bitcoin Cash has a community-organized, decentralized fund that's raised ~60 BCH? They're doing some great things completely from a grassroots standpoint to promote and advertise Bitcoin Cash, especially to merchants and businesses.
If you read Goldbug1, and you should, you know how he feels about the importance of having core coins with a marketing plan and a strategy.
Well, Bitcoin Cash has that, and you can get involved.
Check it out from the fund directly:
yours.org/content/a-new-model-for-bcf-project-organisation-5cb6692298ab
Note
Remember, friends, all of the money you make in crypto are long-term. The losses you endure primarily come from the fear and shock of short-term movements. We have two support zones, illustrated in my Yours post. Look for bounces there. Both are good price ranges to add to long-term holdings if Bitcoin Cash is part of your long-term plan.
At the bottom, when it looks the most scary, is when everyone will sell.
Then it will bounce, and it will bounce hard.
Strong hands required to ride bulls.
Note
Update to my Yours post on Bitcoin Cash price action (link in my signature). Worth reading. Are miners making a move quietly amidst Bitcoin Legacy mania?
Note
New update to my Yours on the market crash situation. One picture > one thousand words.
Note
TradingView conveniently went down at the same time as the major market crash. Much of the data in the charts for Bitfinex does not represent the reality of what happened on the exchange. I've taken the time to screenshot everything. Take a look:
yours.org/content/a-chronicle-of-november-29-bitfinex-dumps-f0d908ed83e9
Note
Please bear in mind that when it comes to "reversal signals", you can't really get a bigger one than Bitcoin Legacy dumping $3000 in an hour and taking every market with it. That means that as these waves progress, bounces are bull traps and everything is a falling knife.
Things are very dangerous. Many charlatans will tell you otherwise, especially as we "return to the mean".
Note
New update to the Yours post for current price action(In my signature)
Note
Update to the Yours post on current price action. Second reminder to stay the hell away from Bitfinex margin trading.
Note
Brand new Yours post while we're watching paint dry in a bearish trend:yours.org/content/is-operation-dragon-slayer-fact--or-fiction--73821081136a
Is Operation Dragon Slayer Fact, or Fiction?
Note
Update to most recent Bitcoin Cash Yours. Bullish divergence against BTC emerging. Free trade structure provided for those with greater risk tolerance.
Please consider tipping if trade works out.
Disclaimer
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