DrJLT
Bán

BCHBTC likely fake out, moving towards 0.1BTC

BITFINEX:BCHBTC   BCH / Bitcoin
Haven't been following BCH lately; just noticed how much it jumped last night. Earlier than I expected. I was thinking it needed to go to 0.09BTC first.

I believe it's a better version of BTC             , but these bit-series coins are addicted to hashpower --- this means their price movements are more closely-tied to moneyed interests.

We can see that

  • it tends to trade between 0.1 & 0.2BTC
  • its pumps are powerful & quick & its drops are slow & long
  • there are fake outs

To identify, I think we can check the up-crossing of 7D SMA over 15D SMA:

  • when at the crossing we have a green candle (marked on chart), we can look forward to 0.2BTC
  • when at the crossing we have a red candle (unmarked), it's probably a fake out

This time, it's still too early to tell, but judging from the level from which the pump started I guess it's going to be a fake out.

Also, the volume is too low for a real breakout. Half of the volume is from OkEx, which has no fees for wash-trading (maker gets 0.1% from the taker).
Bình luận: already falling a bit. I think a good entry is indeed under 0.1
Bình luận: 0.1BTC is what I meant
Bình luận: Pump round 2?
cashening
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I don't THINK So ! you call the bear market ... !
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DrJLT oneandbit
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Btg seems to have pumped with it in this last spurt
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Thank you
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I read your post within minutes of you posting....5 minutes later my group got a buy call on BCH....roflmao
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ChrisCLC13P PRO ChrisCLC13P
@ChrisCLC13P, our group has never turned on the Top that fast before
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Thank you, But o.1 what? please help
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