Full post with trade structure on my Yours (in my signature)
The reality of the situation in crypto today is that there is much danger and calamity.
Mount Finex is crumbling and becoming ever more sketchy and ever more dangerous each day. It would appear to me that perhaps, with their new minimum deposit requirements and only processing LTC withdraws quickly, that perhaps they are not solvent.
It would also appear to me that many of the pumps that are happening in crypto are related to Tether, are for the purposes of pumping the alt-BTC ratio, and exiting the market on inflated pairs via KRW, JPY, and USD fiat exchanges.
The reality is that on Friday, South Korea will announce “measures on cryptocurrency trading” according to a Reuters report that is citing a central bank official.
Yesterday’s market dump seemed to be related to that news. Markets have since recovered.
But, as we’ve discussed in great detail, Bitcoin Cash is the one crypto on the entire market that has the strongest fundamentals.
Why?
Because Bitcoin Cash is Bitcoin. Except it works.
This is going to prove itself to be a bigger and bigger deal as the future plays out.
Bitcoin Legacy (BTFee™) does not have a well functioning blockchain.
Fees are still 60/BYTE, a mere 2,900%+ more than Bitcoin Cash
Average confirmation time on the BTFee™ network is at a relative low at a meager ~270 minutes.
Ethereum has proven that it cannot handle itself under the load from even one widely-used smart contract.
Litecoin as discussed, is a very centralized coin in terms of its distribution and its fees, and while albeit much cheaper than BTFee™, is considerably more expensive than Bitcoin Cash.
And although amidst major market correction, in the absence of a Cashening or a Dragon Slaying scenario, Bitcoin Cash will dump along with everything else, it’s still one of the the safest, if not the only safe bets on the market to hedge your value and your risk in.
The reality of price action is that we’ve now had two 12 hour candles close outside of the prior downtrend line. Price action is now retesting the 0.382 fib retrace from the mania blow off top, Tenkan-Sen has crossed Kijun-Sen. And we have a green Kumo twist, albeit slight, on the 12 hour chart.
The breakout is real, and although it’s slower than some of the other coins are experiencing, these gains are major and real and we now have a trading opportunity that is arising.
== Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
If you've benefitted from my posts, please take a moment to sign and spread on social media the petition to end the organ harvesting of Falun Gong practitioners by the Chinese Communist Party above.
Komen
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Bitcoin Legacy correction is real
Komen
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Komen
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New update to trade post on Yours as well.
Komen
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Price consolidates in the buy area on the trade. Starting to look like BTFee may bounce after dipping below its trendline. regaining it, and then retesting it.
Maximum whipsaw.
Everything still within parameters of the trade structure.
Komen
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Update #2 on Yours. Things still looking good for now, although choppy.
Komen
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Update #3 to yours. We are very close to/at a breakout. If you've been following this trade, you're now sitting about 100 points in profit.
Congratulations!
Komen
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Komen
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Trade structure on Yours
Komen
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Ugh this cut and paste thing on Trading View is annoying. It submits as enter half the time lol.
$1,800 already. We haven't seen that number in quite some time.
Komen
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Update #4 on Yours.
Congratulations to those who have traded the thread. You're sitting on ~$300 in profit and positioned well to deal with the rest of the run.
Pump and dumps have been there to distract you. The shills like webmi, qdoc, and cryptnight that crawl all over our threads talking shit are there to make you capitulate and miss the opportunity.
If you were following this trade you were +$500 profit and we're coming up on target 1.
If you benefit from my posts, please take a minute to sign the petition to end the organ harvesting of Falun Gong practitioners in my beginning post.
Komen
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Price action nailed our target. If you were following in the trade thread you would have done really well yesterday with 600/BCH in gains.
Currently consolidating. I have to sleep for a while longer but we'll revisit this in a few hours and see if we can find room for further upward movement.
Dagangan ditutup: sasaran tercapai
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This trade had its target reached pretty much perfectly. New post incoming for new day's action.
The only thing making this better is knowing my man Rivers is just chilling at his desk, sippin some lean, and just being like "I called that shit"
nuke23
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ok BCH is slow, ok BCH is young, ok the community is growing up really fast and strong, ok BCh will win (i really believe it), but how is possible it doesn't move, all the shitcoin doubled and BCH is still under the strong influence of BTC. BCH is faster going down then going up!
RiversAndMountains
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@nuke23, BCH isn't the coin for people who want to play the nearest pump and dump. LTC and IOTA are there for that.
The day BCH moons is the day every single market is affected. That's why it's held down.
Hi @nuke23,
BCH is young in terms of existence, but it has a mature background and healthy community and support, it also has the third largest market cap, which makes extreme moves slightly less likely than smaller coins... slow and steady is more appealing to the long term holddllder. (people don't buy blue chip's for the short term capital gains!)
simpar19
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My only regret is that I didn't buy more at 1670 since I holded a good quantity from your last trade @1400$. Keep the good work.
scottsim
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love your charts man, I'm worried about finex also, but I have had no issues withdrawing any funds, in fact withdrew bch very quickly last night too!
David_Aus
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@scottsim, Same - withdrew BCH very quickly - arrived in 3 minutes to my wallet vs 3 days waiting for BTC to arrive!
ErnestEA
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Went IOTA and now back to BCH :D my favourite bitcoin.
David_Aus
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@ErnestEA, I'm holding some IOTA and a little ADA while it's early on - but Bitcoin Cash has to be the favourite and chasing the larger market cap of global cash transactions with a decent chance in the long term. After months of study I can't make sense of Blockchain/Core not even allowing a 2Mb size bump??!?! Ruin the best coin handed to them (or rather 'taken' by them) on a silver platter and they drop the ball. Very glad Bitcoin Cash is getting it back on track and glad to see Roger on CNBC.