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BCH fork action appended to pre-fork dataThe price action for this chart is defined by the average of BCHABC across 4 exchanges(Poloniex, Bitfinex, Binance, and Bitstamp) added to the average of BCHSV across 3 exchanges(Bitfinex, Binance, and Poloniex). I copied the pre-fork price action from BCHUSD @ bithumb(where BCHABC is currently trading at about a $150 premium), appended it to this chart and meticulously lined up several key swing highs and swing lows so I could do some somewhat accurate analysis on the chart. In hindsight, I should have used a vertical line to make sure I didn't mess up the horizontal scale as I was adjusting the pre-fork data to fit correctly. Personally, I'm bullish on BCHABC and bearish on BCHSV. If one considers the possibility of BCH technically being the original chain of bitcoin as NIST claims, in my opinion it's easy to understand why this fork was so important and why it seemed to have had such an impact on the crypto market as a whole. My bullishness on BTC in the short-term is currently somewhat dependent on BCHABC continuing to win the battle. To make the chart a lot more interesting, I've overlaid the individual prices of BCHABC and BCHSV. It will be quite interesting(to me) to see BCHABC at binance react to the TA from this chart... Bitcoin's latest bear trap hit the downtrend line on my falling wedge perfectly, currently bouncing right off(see the related "personalized bitcoin index" chart and press play)... Note: As with my related chart I just mentioned, in this version, I sacrifice accuracy of the volume indicator to get a slightly more accurate price reading, correcting the average price against any movement of USDT/USD at Kraken. In a couple weeks or so after Coinbase finally stops holding the coins hostage and the dust settles, I'll follow it up with another one with a more accurate volume indicator that will either disregard USDT pairs altogether or otherwise not worry about what happens with USDT. Current formula: (BINANCE:BCHABCUSDT*KRAKEN:USDTUSD+BITFINEX:BABUSD+POLONIEX:BCHABCUSDC+BITSTAMP:BCHUSD)/4+(BITFINEX:BSVUSD+BINANCE:BCHSVUSDT*KRAKEN:USDTUSD+POLONIEX:BCHSVUSDC)/3
BLong
by tomtourettes
5
BCH Fork War - BCHABC vs BCHSV vs the Sum of the TwoJust a follow-up to my "BCH fork action appended to pre-fork data," now that coinbase has finally started trading it again. No surprise to me that there was a big volume spike in BTC(and possibly/hopefully a long-term bottom) about a half hour before they finally tweeted their intentions to resume trading it soon(and give the BCH ticker to BCHABC). I believe the hashrate war had a huge impact on the entire cyrypto market, but I also believe it will be basically over with sooner than most people anticipate while BTC recovers a lot faster than most analysts are predicting. My friend made a an interactive 15 min version:
BLong
by tomtourettes
1
Potential bat pattern forming in TRX price action?Staying on track with our goal of being more focused on technical analysis, our team has been scouring charts for signs of harmonic patterns indicative of future price action movements. Sometimes, as we did, you’ll find the beginning formations of a pattern... Based on the rules necessary for a bat pattern to be validated we feel as though Tron is in the process of completing the patterns “D” leg. For now, we’ll be watching Tron closely as price action either validates or invalidates this analysis. Should the bat pattern become validated point “D” is certainly looking like a healthy place to buy however we did notice a potential, shorter-term Gartley pattern forming which would put a healthy buy-in at a much higher point. Do either of these scenarios seem likely to you based on your own analysis? Feel free to share any you may have done yourself!
Long
by theJadeCrow
2