Not financial advise, dont bet the farm... you know dont make any bets based on this opinion. Seek financial advance from a qualified advisor and do as much research as possible before making any trade.
Sorry to the people that follow us on Twitter waiting for these and previous plotted lines on a chart. We face certain problems trying to calculate on such a big currency such as BCH. The straight answer is that there are alot of different exchanges and those pools of must be taken into account before coming up with the lines. We chose BITFINEX for plotting our resistance lines since it has the least amount of drift when calculating using (Vs. BTC ).
If you followed us on Twitter (here https://twitter.com/Nysedaytraders/statu...) , we posted the first few lines of resistance already which seem to be holding up very well. Up till now our 3712 was our outer orbit of resistance. This is because it will take a very large amount of above this line to break it. And looking at the numbers today (right now) there isnt enough escape velocity to break it. We believe (and hope) this will result in some consolidation. $BCH needs to digest the move that has already happened to keep things together.
New SB Resistance lines
SBR3 =3712.52 (Contested - needs a lot of to break)
Support =3333.23 (Resistance Defeated)
Support=3122.09 (Resistance Defeated)
Lurker Buyer =3077.87 (Last seen a while ago. Not seen since.) Will post when #Mudspike occurs.
Who is #MrBlackhole
There is a very large buyer we have detected in 3 cryptocurrencies and seems to have a very heavy influence. It seems this person/bot is buy side only and does not sell. This is why we branded him MrBlackHole. That said this is has made predicting movements higher easier because there is a very predictable incremental jumps buying levels. For some this sounds like pixie dust and hog wash. But if you look at our twitter and Trading view posts on VTC Vercoin, we have been able to predict levels of resistance before it even trades there. More recently we have been initiating coverage on BCH but unfortunately we do not have the sources to keep it up. So we will not be providing on going coverage beyond what we have posted here. The computing power, data storage and time required is .... taxing on our resources.
We will be providing coverage on one other coin in the coming days as soon as we verify the numbers. Now that we are finished with $BCH we will be focusing on the quieter coins.