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BCH BSV BAB Low volume and trianglesI actually did not want to make an analysis on these 2 but since many people have asked me to i will give it a try. The reasons i did not want to do it myself is very simple, there is not enough data to analyse these 2, only 3 weeks of data. But i will give it a try. My second reason is, i honestly do not even want to waste my time or energy on something that is being used like a little toy by an elite few who simply just do whatever they want and have been the catalyst for the dump the crypto market had the past weeks. I hope these people are very proud of themselves for proofing the world that crypto is not decentrale as it is on paper. On the left we can see a triangle in the making where the volume is dropping as well. Usually this means we can see a break on the downside. But that blue circle shows a possible bear trap move, indicating some big players might be accumulating here in this triangle. So only if we break up with high volume, this story might be true. That red zone is a clear resistance level. On the right we can see an inverse H&S brought the price to the current levels and from the looks of it we broke upwards from that triangle. But there is no volume at all there. That tells me this breakout will most probably fail. Unless it can stay above the 95ish and still make another move up this week with high volume. Otherwise i think it can test the 70ish zone again. Please don't forget to like if you appreciate this:)
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by botje11
16
BTC 3-hour forecast. Machine learning.Dear colleagues and followers, We at Osiris Finance are pleased to remind you that we resume or regular posting schedule after the Bitcoin Cash hard fork. The Osiris team remains constantly improving predictive and trading algorithms to deliver the best results achievable. We are using the bearish trend of the recent days as a wonderful opportunity to stress-test our systems and to make them less susceptible to statistical outliers. Yesterday, it was discussed that Bitcoin price could tumble towards the $4,000 support area against the US Dollar. The BTC/USD pair did decline further and traded below the $4,500 and $4,400 support levels. The price fell close to the $4,000 level and a new multi month low was formed at $4,038. Later, the price corrected above $4,200, but it is still well below the 100 hourly simple moving average. (Source: www.newsbtc.com) In a press release yesterday, Binance Labs revealed that it had made a $3 million investment into Koi Trading, an OTC trading operation headquartered in San Francisco, CA. They aim to be a compliant global option for private cryptocurrency liquidity. Koi also offers assistance with data science, quantitative research, and compliance consulting work. Commenting on the firm’s decision to invest in Koi, Head of Binance Labs Ella Zhang, said: “Koi Trading’s mission is to bridge fiat and cryptocurrencies in a compliant manner. This aligns with our broader vision at Binance to build the infrastructure which provides the freedom of value exchange globally.” Koi has an experienced team of founders, including CEO and founder Hao Chen, who added, “Our team of experienced traders and sales personnel will join forces to tap into vast networks of counterparties in North America, Asia and the EU, bridging the gap that divides the current OTC landscape.” (Source: www.ccn.com) The governor of the Bank of Thailand has stated that crypto won’t be used in the country for another three to five years. Veerathai Santiprabhob made his comments yesterday, according to a report from the Thai News Agency. He admitted that while cryptocurrency was a success in some countries, it was not as easy as it sounded to implement. This was due to the technology and people’s willingness to embrace it. Santiprabhob added that he didn’t believe that it will be used within the next three to five years. His comments come at a time when other nations are considering their own state-backed crypto assets. (Source: www.livebitcoinnews.com) Six days have passed since Bitcoin Cash split into two competing chains; however, the market is still bewildered by the outcomes of this controversial hard fork with potentially far-reaching consequences for the whole cryptocurrency industry. As the hash rate war is coming to an end with Bitcoin ABC as an obvious winner, another conflict is about to erupt. Major cryptocurrency exchanges have started to unlock BCH accounts and relaunch trading services for new coins. So far, so good, but some trading platforms use new tickers for both coins, while the others assign BCH ticker to Bitcoin ABC, claiming that it is a true successor of Bitcoin Cash. It makes harder to estimate the market situation and the trading volumes for the coins. CoinMarketCap portal added Bitcoin SV (BCHSV) as a new coin and merged ceased to exist Bitcoin Cash (BCH) with Bitcoin ABC. It means that the price and the trading volumes reflected under Bitcoin Cash name on CoinMarketCap now refer to Bitcoin ABC. (Source: www.fxstreet.com) The following is a scheduled notification from the Osiris team. Our models have been working hard and smart on forecasting the market, and here are the most up-to-date predictions for the next 3 hours: As usual, red, green and blue rectangles demonstrate predicted values of low, high and close, respectively, with corresponding confidence intervals, and the black arrow illustrates our trades. Pair: BTC/USD High: 4565.93 Low: 4536.10 Close: 4565.93 Due to the high volatility on the market and high uncertainty surrounding most of the coins, the Osiris Team does not recommend to trade with short-term investment horizons. As mentioned previously, the Osiris team is currently holding Bitcoin ABC (BAB on Bitfinex, BCH on Huobi and Kraken) guided primarily by fundamental analysis. Thank you for staying in touch. We are looking forward to your feedback and any suggestions here at TradingView.
BITFINEX:BTCUSD
by Osiris_Finance
Bitcoin Cash hard fork special. BAB price analysis and forecast.Dear colleagues and followers, We hope you and your portfolios have survived the bearish run of the recent days. Our trading systems at Osiris Finance urged us not to trade during this period so we managed to preserve our capital. We are expecting to resume the regular posting schedule with forecasts and news digests on Monday, November 19th. And now for something completely different. Osiris Finance presents an analysis of a Bitcoin Cash hard fork that happened on November 15th at 4:40 UTC with first blocks mined on rival chains (Bitcoin ABC and Bitcoin SV) soon after 6:00 UTC (Source: blockchair.com). The blockchain community is somewhat divided in terms of support of two rival chains. Osiris Finance personally sees both significant merits and shortcomings in both technological reinterpretations of Bitcoin Cash protocol, however the Osiris team generally supports the Bitcoin ABC project as the leading enthusiasts of Bitcoin ABC seem more competent and level-headed (nevertheless, we are deeply disappointed that both Roger Ver and Craig Wright have so much influence over respective blockchain projects that are meant to be decentralised and independent by definition). Many exchanges, including Bitfinex and Poloniex, have started trading Bitcoin ABC and Bitcoin SV IOUs shortly before the fork (Source: www.coindesk.com). Therefore, it is extremely interesting how such aggravating rivalry manifests itself in coin prices and whether it offers any profit opportunity in the future. Prior to the hard fork, there were a number of concerns surrounding the ABC-SV rivalry. First, as Satoshi’s Vision implementation has been focused on increasing the block limit, the market would react to the relative size of blocks mined on the SV chain (Source: coincodex.com). Second, as there were speculations that SV team might launch a 51% attack, the dynamics of relative hashrates of the two networks could trigger a price reaction (Source: ethereumworldnews.com). Finally, and arguably most importantly, as analysts warned SV chain could mine empty blocks on the ABC chain and thus disrupt the functioning of the network, the market would be very responsive to any empty block appearing in the ABC chain. (Source: www.coinspeaker.com) Going into the fork, the SV chain controlled over 74% of the hash rate (Source: cash.coin.dance). Probably to level the playing field, Roger Ver has announced that the Bitcoin mining pool Bitcoin.com would switch some of its computational powers to mine the ABC chain instead (Source: www.chepicap.com). It is arguably working, as now ABC is leaping ahead in terms of hash rate and controls 64% and that has been relatively stable recently (Source: cash.coin.dance). The analysis of Bitcoin ABC (BAB) price responses to major post-fork events can be seen on the chart. Right after the fork, the market responded strongly to which chain mines the first block. First two blocks were mined by Bitcoin.com on the ABC chain at 18:02 and 18:05, which caused the BAB price to jump upwards from 280 USD to 300 USD. As SV chain has struggled for a reasonably long time to mine blocks, BAB has skyrocketed and peaked around 360 USD at 18:20 UCT. Later on, a variety of concerns surrounding the ABC chain have driven the price down. First, the blocks were finally mined on the SV chain and their size was impressively high, especially relative to those on the ABC chain, letting the market believe the technological solution of increased block size in the Satoshi’s vision concept is successful. Second, despite the second wave of blocks mined on the ABC chain has managed to temporarily lift the BAB price back to 342 USD, the push was short-lived – as Bitcoin.com was speculated to be a temporary miner on the ABC chain and all the blocks to date were mined by Bitcoin.com, the early success of the chain was perhaps evaluated as artificial by the market. After 22:00 UTC Bitcoin ABC has managed to regain momentum as two new pools, BTC.com and AntPool, has joined the mining and managed to generate eight non-empty blocks within half and hour. These news alleviated the price from 300 USD to 311 USD. However, shortly afterwards these pools started mining empty blocks (22:50, 23:36, 0:28, 0:37). The market was very suspicious towards these events as it could perceive empty block mining as signals of an attack by the rival SV chain. Later on, almost every empty block mined on the chain has induced negative price reaction (see Chart). The Osiris Team has analysed 289 blocks mined on the ABC chain up until 13:06 UTC today (Source: blockchair.com). 286 of them were mined by well-known mining pools: Bitcoin.com (157, or 54.33%), BTC.com (60, or 20.76%), AntPool (47, or 16.26%), ViaBTC (17, or 5.88%) and BTC.TOP (5, or 1.73%). Out of those 289 blocks, 16 were empty. At the first glance, the majority (10) of these empty blocks were, suspiciously enough, mined by AntPool (21.28% of AntPool blocks on ABC chain are empty). This, coupled with the fact that Jihan Wu, one of the Bitcoin ABC project supporters, has recently lost executive power at the board of Bitmain, a mining company controlling AntPool (Source: cointelegraph.com), may signal AntPool is aiming at attacking the ABC chain. However, a closer look at the data does not support this claim. First, AntPool is not focusing on mining empty blocks precisely. It is focusing on mining SMALL blocks (average block size of 3.72 kB compared to 442.9 kB of Bitcoin.com or 368.17 kB of BTC.com). This is entirely consistent with the business model AntPool has been sticking with as early as 2017: AntPool does not process transactions that offer low fees to optimise their return on investment and, possibly, to drive the fees up and gain some market power (Source: bitcointalk.org). The data is also consistent with this explanation: among the mining pools, AntPool has by far the highest average fee per kB: 2.73 cents compared to 0.48 cents of Bitcoin.com and BTC.com (see Table below). This would not be the case if AntPool has empty block mining as its goal. Nevertheless, the market is still reacting negatively to empty block mining on the chain. Mining pool Total blocks mined on ABC chain Empty blocks mined on ABC chain Total fees collected (USD) Total block size (kB) Fees/kB (cents) Average block size (kB) AntPool 47 10 4.78 174.875 2.73 3.72 Bitcoin.com 157 5 332.32 69534.742 0.48 442.9 BTC.com 60 1 105.65 22090.094 0.48 368.17 BTC.TOP 5 0 3.59 343.949 1.04 68.79 Unknown miners 3 0 0.64 27.188 2.35 9.06 ViaBTC 17 0 12.50 3114.982 0.4 183.23 Total 289 16 459.48 95285.83 0.48 329.71 As for now, the block size is reducing on the SV chain and the ABC chain is decisively taking hold of the majority of the hash rate. Given the fact that both chains and their mining pools are mining at major losses (cointelegraph.com), large block sizes and frequent mining in the recent days may have been indeed artificial “warming-up” of the network in order to attract attention. In the longer run, the perspectives of the ABC chain seem more promising as it has already attracted “selfish” mining pools such as AntPool which is crucial for network functioning in the future. Moreover, BAB is probably currently underpriced at 255 USD due to high level of perceived risk around possible 51% attacks and empty block mining. If the ABC chain network manages to consistently control over 50% of hash rate, the price will go up. Therefore, Osiris Team concludes that BAB is by no means a safe, but a promising investment for a weekly investment horizon. Osiris Finance will resume its duties in forecasting the Bitcoin market from Monday. Stay in touch and good luck in your today’s trades! We are glad to receive any feedback here at TradingView.
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by Osiris_Finance
BCH CLOSE TO A DECISIONHey Everyone, Happy Monday from where I am here in Bangkok, currently! Looking at BCH, I haven't added my Elliott Waves to this chart, but have decided to go with some move traditional charting and super easy with Crypto. Crypto LOVES LOVES LOVES triangles, it thrives on them, it is a key part of trading and simple to use. All you need to do is draw support and resistance lines and trade the break out or break down, it is that easy. Combined with some Elliott Wave 8 times out of 10 we know the direction the triangle will break. :) There is a Hard Fork coming in 2 months for BCH - where BitcoinABC will break away... so I expect a rise with the hype and sharp decline closer or just after. REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION (minimise your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!! <3 Lisa DISCLAIMER: The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons... PS make sure you give me a like, that way you get updates as I post them.... :) <3
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by LisaNEdwards
5