BSV - The Flippening - Strong Buy - Part 4BITFINEX:BSVUSD : Strong Buy
Analysis Method: Fibonacci & Wave Theory
Immideiate Target: $380-$470 (Hit)
Near-Term (30-60 days): $1,400
Please see previous BITFINEX:BSVUSD analyses for further information
Long story short, COINBASE:BTCUSD was compromised by two competing factions of crypto engineers.
The factions working on the protocol BITSTAMP:BTCUSD couldn't come to an agreement on how to scale COINBASE:BTCUSD .
The disagreement led to COINBASE:BTCUSD being forked resulting in COINBASE:BCHUSD .
But, the factions continued to disagree which resulted in COINBASE: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.
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. (Important)
Last week, Bitcoin Cash (BCH) personalities proposed a 12.5% tax on mining rewards that would ostensibly go to funding network development.
Cointelegraph reported last week on the proposed tax published by Btc .top CEO Jiang Zhuoer. The “infrastructure funding plan” would have miners send 12.5% of mining rewards to an entity in Hong Kong. The co-signing entities repped 27% of hashrates. Most controversially, the proposal included “orphaning” non-compliant miners — the practice of removing blocks from the chain that resembles a 51 percent attack.
Critics underscored the routing of funds to a CORPORATION instead of a nonprofit and the absenting of a voting procedure, which would mean COMPANY OWNERS would control BCH development. Other complaints included CHINESE government interference and profitability since the tax would affect miner revenues.
BCHABC's fate will be determined by Miners and Economics.
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Following Wave Theory, Wave 1 was supposed to extend but instead price-action broke down and we have retraced almost the entirety of Wave 1.
BTC's hash rate topped out on 3/5/2020 at 157,909 PH since then we have gone done to as low as 85,000 PH on 3/11/2020. Hash Rate does not completely determine price but since this is a new technology it does play a role.
Crypto Mining Servers do not catch viruses so it is highly unusual for BTC's hash rate to almost be cut in half.
China is currently the leader in Crypto Mining and has been known in the past to manipulate hash rates.
I'm expecting basic economics to correct this action. Hash is coming back online. It will be interesting to see if the Hash is reallocated.
Track the Blockchains here: coin.dance
Hash Rates: snipboard.io
Block Size (Scale): snipboard.io
Profitability: snipboard.io
6 Hour Chart: Primary Wave 1 & 2:
Immediate Target Area: $465-$700
1 Minute Wave Count:
Will update with further timeframes and will track BSV's waves.
-FMW
BSV
The Polish government will use BSV to create a food supply chainConfirmed information. The real use of Bitcoin is becoming a fact.
Source (Real Polish government website.): www.kowr.gov.pl
Second Source: bitcoinpl.org
ETH. Short setup.ETH failed to pass the upper Resistance and drop down to nowhere at 4H chart.
Retest of 4H Supply zone looks valid.
Reclaim of $175.7 level will make us bullish on LTF up to $189.9-195.55 zone.
But for now test of untapped liquidity at $140.6 / $137.8 is more likely to happen.
First support level is $146.55, next is Mirror level at $134.15.
We will wait for the price to reach this 4H resistance zone on LTF before releasing a signal.
USA has 3 days off and BTC/ETH can easily back into range.
Trade safe.
BSVBTC - MBA Trading Academy TA Fridays 10/4/20Price is pushing into the 61.8% resistance level on the daily and has found a little consolidation channel. If we can break above this channel, I'd long to the next key level (78.6% on the daily), possibly taking some profit along the way if we come into resistance earlier.
If we form market structure breaking above the channel, my stop loss will be just below the most recent low.
If stop loss has to be too big (making less than 2:1 RR), or if we break below the channel, I won't enter this trade.
This could take a few days to break above the channel, and may stay in the trade for up to a week.
Bitcoin SV Chart Mapped (Support & Resistance Levels)Here I am mapping the Bitcoin SV vs Bitcoin (BSVBTC) chart.
Multiple resistance levels have been conquered giving the bulls here the upper hand.
Prices can easily make a strong jump next (green arrow).
Conditions for change
If prices move below EMA100 (in blue) this set up can easily get invalidated, but if this comes to pass we are likely to see a bounce after the drop... Sellers are already exhausted and the RSI is really strong.
Namaste.
Bitcoin Satoshis VisionStock Symbol: BSVBTC
BSV had a fairly large correction from its last big pump. Now we are starting to compress on the selloff with a potential shift on the weekly. Want to watch volume push up for the crossover here. Accumulating here is not a bad idea.
Diversify and use 5% stoploss
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Thank you for your continued support, God bless you though these times.
- Major League Trader
bsv btc longbsv completed an inverse head and shoulders
incoming halving
if it blasts past the red line, things might go very high
not a financial advice, for educational purpose only
BSV halving 2020. What next?BSV halving suppose to happen on April 10th at 3-4am. Expect some volatility. The price of BSV will go up just be careful and manage your money properly.
BSV broadening wedgeBSV has formed a LARGE broadening wedge, this a very bullish pattern included a fractal and an optimal buy point. Also some moonshot ranges once BSV breaks this broadening wedge barrier.
BSV USD. Higher or lower, only probability matters. I’m looking to check whether or not this price can go higher. If it does go higher, I’ll wait for the price to come back to 170-180. If it goes lower, I’ll look for a 110 entry. Either way we will enter the market.
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Check the chart :
BSV is show us again that react better on BULLS run than main indicator of crypto (BTC) i am bullish now and I am sure that btc must test now 7200 again and it will pass it show BSV have big possible to make nice % of profits .
I saw that the action is going by very simmilar line at last days and weeks so I think that trend will be continue .
Stay strong !
Bsv. False breakout. I hope you’re all okay with that.I never buy breakouts. I’ve been faked out so many times. 9/10 breakouts are fake. Bad probabilities. If we reverse what we due then 9/10 breakouts probability is in our favor. This line was drawn from 2 Weeks age, let’s see if it’s delayed or I’m completely wrong. I’m open minded to being wrong but I’ve learned the market is delayed in decision making.
BSV OUT PACING BTC SHORT TERM AS HEDGE TRADEBITTREX:BSVBTC BSV/BTC over the last 95 days has gained 130% in value.
BITTREX:BTCUSD BTC/USD over the last 95 days has LOST -11% in value.
BTC is king and will be 2 gazillion bucks one day sure sure sure, BUT for NOW in the short term we can buy and scalp BSV/BTC for satoshi's. This is A TRADE IDEA NOT a stance on who has the best tech or biggest idiots on either side.
BSV continuing down Rejected from major resistance, hidden bearish divergence, and dropping volume .
BSV weakiningPrice inside the daily ichimoku just above support. under the 4H ichimoku cloud, in a descending triangle. Descending triangle target in the 165 range.