BSV - The Flippening - Strong Buy - Part 2 cho BITFINEX:BSVUSD bởi FibMarketWatch

BITFINEX:BSVUSD remains a STRONG BUY.

Please see previous BITFINEX:BSVUSD for further analysis.

Long story short,

BTCUSD was compromised by two competing factions of crypto engineers.

The factions working on the protocol

BTCUSD couldn't come to an agreement on how to scale

BTCUSD .

The disagreement led to

BTCUSD being forked resulting in

BCHUSD .

But, the factions continued to disagree which resulted in

BCHUSD being forked. The fork created POLONIEX:BCHABCUSDT and BITFINEX:BSVUSD.

The disagreements put the 'Nakamoto Consensus' to the ultimate test.

Nakamoto consensus is a name for Bitcoin’s decentralized, pseudonymous consensus protocol. It is considered as Bitcoin’s core innovation and its key to success. The consensus protocol doesn’t require any trusted parties or pre-assumed identities among the participants.

Bitcoin’s consensus algorithm, hereby referred to as “Nakamoto Consensus”, powers many cryptocurrencies today. The basic concept is simple, the state is organized into a tree structure, or “block tree.” Each node in the tree is a valid block of transactions, and blocks necessarily point to the previous block’s cryptographic hash. Nodes reach consensus by selecting a path in this tree of valid blocks. This is the basic structure which defines many cryptocurrencies.

In Nakamoto Consensus, “Proof-of-Work” defines a mechanism which enforces an easily verifiable but difficult to compute delay. Originally defined by Adam Back’s Hashcash paper , PoW is effectively used by many cryptocurrencies to place a control on the rate of block generation, and to provide a mechanism for block proposers (miners) to be chosen. Proof-of-Work is hard to produce and easy to verify. An algorithm exists for adjusting the “work” parameter, ensuring that the time to create each block maintains relatively constant.

Consensus can be reached by selecting the “longest” chain of valid blocks. In the Bitcoin whitepaper, and some other documentation, it is indicated that the honest chain grows the longest, assuming that 51% or less of the miners are malicious. Therefore, the longest chain can be considered to be the chain with the most invested Proof-of-Work:

In short, Miners use their hash to vote on the Blockchain.

Miners supporting POLONIEX:BCHABCUSDC will move their hash to mine its Blockchain.
Miners supporting BITFINEX:BSVUSD will move their hash to mine its Blockchain.

Before the Fork, BITFINEX:BSVUSD camp had over 70% of Miners hash.

Monthly Chart:

High Wave 2 Retrace > 78.6%

High Wave 3 Target Area $407-$277

Will update with more detailed analysis of BITFINEX:BSVUSD inner waves.

FMW

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Pick up from last analysis...

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Near-Term Target = $220.11

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Higher Wave Sequence is still extending...

Correction Sequence is completing now...

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Minor Wave 1 = 130%

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When $220 breaks...

Look to $396...

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It's time for the MAJOR BREAK!

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$220.11 Target Hit.

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$220.11 was another extension trigger...

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If Wave 1 & Wave 3 Trend near equality...

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Then you would expect to see Wave 3 Terminal around $339.00...

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Remember: Wave Rule: Wave 3 CANNOT be the shortest wave...

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If I see any signs of a significant pull back, I will update the analysis.

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Coincidence Crypto breaks-out after US dis-labels China a currency manipulator?

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U.S. Drops China’s Currency Manipulator Label Ahead of Trade Deal
Move comes two days before planned signing of a trade deal

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Prediction: Crypto will be the largest Transfer of Wealth in Generations

Here is an example of New Crypto Applications:

Safari, Chrome, Firefox Killer?

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$220.11 Hit...

$396.31 Hit...

$407.82 Hit...

High 3rd Wave Extension Triggered...

Wave Rule = Extensions have no specific terminal level.

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Next Target is $650.65

Then, $1,040.39

In my experience, you see a pause in extensions around 4.618...

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We had a complex correction (Double ZigZag) 5-3-5 sequences...

When complex corrections you anticipate a large move...

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*When complex corrections finish...

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Follow the Blockchains here:

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Block Sizes (BTC v. BSV v. BCHABC):

Block size = Scale

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High Wave =
36 days to Terminal
407% Gain

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Complex Correction Sequence: Double ZigZag
117 Days to complete
-73.75% Retracement

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Lower Wave 1:
32 Days to Terminal
132.49% Gain

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Lower Wave 2 Correction: Complex - Double ZigZag (5-3-5)
53 Days to completion
-50.19% Retracement

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Wave Rule: Alteration

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Particular attention should be given to corrective waves. The pattern that Wave 4 takes will alternate from the pattern of Wave 2. So if Wave 2 was a simple correction, we should anticipate Wave 4 to be complex, and vice versa.

This is an enormously useful guide, allowing us to side step the difficulty of trading a complex Wave 4. If Wave 2 traveled deep, then it is likely that Wave 4 will be sub normal. If Wave 2 took more time to finish, Wave 4 will probably be a quick one.

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Once a 5-wave sequence ends, look for a correction that is BIGGER than either of the prior 2 corrections. This is when you make the most money trading...

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1 Hour Wave + Correction Sequence (1,2,3,4,5 + A,B,C)

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Placement of Stop-loss orders...

It will be JUST BELOW the starting point of any tiny five wave move you spot.

Why?

Remember: Wave 2 can never go below the start of wave 1

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Daily Chart Update:

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Daily Chart Update:

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Hourly Chart Update:

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Immediate Target: $377

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Time Frame: < 48 Hours

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Here we go...

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Target Area: $405-$362

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1 Hour Wave Count:

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Immediate Target Area: $390-$348

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Key Level: $390.88 (Extension Trigger)

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48 Hour Time-frame is getting close...

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Missed 48 Hour Target....

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Added Fib Time Marker

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5-3-5 Sequences in the 1st Wave Position

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Fib Time Marker is Feb. 4th

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Extremely Strong Breakout should be beginning any moment...

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New thread coming soon...

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Targets remain the same...

1st: $377-$390

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Reminder: 5-3-5 Correction Sequences are not the same as Wave Sequences.

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Genesis Block:

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Above Link: Illustration of Bitcoin's Forks

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Genesis Block Protocol Upgrade: Removing Block Size Cap

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Example of Micro-payments and the 'New Economy'- Twetch App

$Andrew @7208

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5-3 Sequence in the 30 Second Count...

Still anticipating a breakout...

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Looking for a Wave Sequence to form here...

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Looking for Volume to pick-up...

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Hourly Chart Update:

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02/04/2020 21:00

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Time is in UTC...

Currently:

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19:25

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(Time Screenshot)

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We are breaking out as expected...

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Working on new thread...

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Daily Chart Update:

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Hourly Chart:

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$1,000 Target will be hit before you know it...

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Wave 1 = 493%

Wave 3 Rule - Wave 3 cannot be the shortest wave...

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If Wave 1 & Wave 3 near equality...

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Price Target would be around $1,407

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Time-frame 30-90 days to hit target...

Will do more work on Time-frame in next thread...

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Earliest case scenario is 14 days...

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Wave 1 - 493%+ in 27 days...

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Third waves are wonders to behold! Prices will typically take off in a powerful fashion, and the more you delay joining in the direction of the move, the farther it will go away. Stop loss orders will all get executed and push the prices more and more. Even fundamental news will get interpreted to suit the move (i.e. even if the news was bad, the market will somehow interpret it to mean the worst is over!) During an uptrend, any trader who tries to pick a top and sell for a brief correction will soon find himself stopped out.

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Wave 3 is usually the longest and strongest.

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Wave 2 typically finishes at either the 50% or 61.8% retracement of Wave 1.

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What is an extension? It is a wave having disproportionately larger amplitude. How can we discover that wave 1 was extending? You know that wave 1 is, in itself, made up of five smaller waves of one lower degree. Suppose the minor wave 3 travels more than 161.8% of minor wave 1 then we are seeing an extending wave 1.

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Suppose wave 3 is of normal proportion. Once the minor wave 4 is finished, you should draw a channel where the lower line connects the bottom of minor wave 2 and minor wave 4. The upper parallel line should be made to touch the top of minor wave 3. If the minor wave 5 goes above the top of this channel, then we are seeing the minor wave 5 within wave 1 extending, which means the whole wave 1 is an extending wave!

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