BCash/USD Kraken vs BitfinexAs you can see, the current price BITFINEX:BCHUSD is as of this writing 10% lower than Kraken KRAKEN:BCHUSD .
This is a good indicator to see a possible future price.
There is a lot of support for BITFINEX:BCHUSD KRAKEN:BCHUSD that many might not see. I can tell you now that my honest opinion is that we will see $450 and higher in the coming 1-4 weeks.
This is the place to start accumulating small bits as the price goes down. Also, pay close attention to the BTC value. BITFINEX:BCHBTC KRAKEN:BCHXBT
This is of course very risky, so please use good money management and some patience.
Shorting, or margin trading is a very bad idea here IMHO.
A bottom? that is impossible for anyone to tell at this time.
I started buying at $303 on Kraken and will continue buying every 10%-15% drop from here.
BCC
Bearish Sell Off Possible? BCCHere we are, days before the possible split of Bitcoin to Bitcoin Cash (BCC). This could have a number effects on the cryptocurrency, least of which is some price movements.
It appears many are buying for the sake of having some BCC when the split happens on August 1st. These buyers could turn really aggressive bear after August 1st after they get their BCC.
On the charts, we have what looks like a double top forming. Not the best I have seen, but it has potential, especially when paired with the BTC split.
From the previous high, we see a 3.85% difference in the tops which is what you would like to see in this formation. This suggests that the bears kept the highs from smashing through the previous high or even touching it for that matter.
The fall down to the now neckline is in range for what you would want at 18.31%.
Volume appears to be slowing on the upswings while it is heavier on the way down.
The uptrend before this is exactly what I want to see coming into this. It has to be there in order for bears to take their profits.
Still waiting on a confirmation as to both the price direction and volume as to whether or not this double top takes place. It must break the neckline with sufficient volume in order to be considered worthy of trading. Again, this could happen if those buying for BCC sell out in massive numbers on or after August 1st.
And at least we have some good resistance lines in place that would be wise to look at.
BCC starting to trend higherLooking to buy the break out . 1st target is about 5 bucks away. Good risk reward ratio.
Short DASHDASH price has become MASSIVELY over-inflated into a giant bubble which has now burst.
Yesterday Bitfinex added BCC and BCU tokens to allow traders to speculate on the future price of BTC and BTU respectively (these tokens will then be fully-convertible post-fork).
Currently BCC (BTC) is surging ahead. This will lead to downward pressure on DASH which has been boosted in price partly as a speculation on BTC price crash.
It now looks likely that a hard fork will result in BTC maintaining a healthy price and market dominance and thus the bullish exuberance in Alts is near to run its course.