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Long Bitcoin CashBitcoin Cash's upcoming fork will stabilize its hash rate giving end users consistent transaction confirmation time. Bitcoin Cash will be well positioned competitively with the BTC blockchain by the Nov 17th Segwit 2x fork. There are a lot of bullish signs in the price history from looking at the graph. The fib levels give clues to future resistance levels on the way up. The price has already retraced the entire move from $294 to $972. Don't forget many BTC holders immediately sold their Bitcoin Cash thinking it was "free money". The price has already bottomed out and stabilized from the dump caused by the initial distribution to all BTC holders. You will not be able to move your forked BTC on Coinbase during the 2x fork. support.coinbase.com Many other exchanges have similar policies. The crypto market will not just pause though. There are plenty of other alternate cryptocurrencies to use during this time. Bitcoin Cash is well positioned to be one that many people may pick.
BLong
by investing_alt
Bitcoin Cash Monster UnleashedWOW. We have been long Bitcoin Cash since $540. I was expecting a rally but this is a monster! BCH did what took BTC 3 years to accomplish within 3 months. BCH is now finding a new ATH. For now we can only hope for a retest of the breakout around $1000 to reload our position. This coin fuels lots of emotions/philosophical debates for traders which leads to FOMO when it breaks out. No one wants to find out they sold the wrong bitcoin! Notice that the all time graph of BCH is on a bull trend and volume of buyers is only increasing. We use a fib extension to find possible future resistance levels. BCH is a strong buy below the $972 support. *Ignore the target dates on the target indicator I do not know how to remove those.
BLong
by investing_alt
7
BTC done for now, my projection until XmasWell, that was interesting. And unexpected. 1. Segwit fork cancelled That crazy segwit fork that no one really wanted anymore? Got cancelled just now. All the people that accumulated bitcoin in anticipation of the fork (like, getting out of alt-coins), well, no fork = no need to hold BTC for the fork. 2. BTC reached new ATH Right at about the same time segwit got cancelled, BTC reached a new all time high. This A.T.H. was just about exactly what was expected: 1 september A.T.H. of $4930 times 1.61 (fibonaci) = $7935. Just like that 1 september A.T.H. was the June 11 A.T.H. of $3000 times 1.61. My guess is that large bitcoin holders just decided to quickly push the BTC price onwards to this A.T.H. just to get a lot of uncertainty out of the market. It shot up from $7474 to $7888 in 30 minutes time and withdrew almost immediately. All the people that held bitcoin in anticipation of this fibonaci all time high, well, fibonaci A.T.H. reached = BTC going down for the correction, just like it did in the previous cycles. At this very moment, it's likely that a quite some BTC holders are still unaware of the all time high and the cancellation of the segwit fork, or not able to act on it yet (being at work, sleeping, driving etc). I therefore expect a further sharp decline in the coming hours 3. Alt-coins bottomed out With a lot of people swapping alt-coins for BTC in anticipation of the 25 oct Bitcoin Gold fork and the (now) cancelled Segwit-fork, many alts have bottomed out. There's a lot of fuel for a new upswing all over the place. Most alts shot up after the fork cancellation and bitcoin A.T.H. and will imho continue to do so in the coming days. So I'm expecting a BTC correction following a somewhat similar pattern like after the A.T.H.'s of 1 september ($4930) and 11 june ($3000). However, since it this current cycle has been a bit overextended thanks to the segwit fork timing, the bearish period could be shorter than usual. If the previous 2-month cycles repeat, it's possible that a new A.T.H. of about >10K could be reached somewhere among Xmas en New Year. Fibonaci puts it at about 7935*1.61 = 12.7K but I would not bet on these cycles staying 100% predictable forever. /edit - Disgusting. Xmas has apparently become so commercial it even has its own stock symbol :)
BITSTAMP:BTCUSDShort
by AndersF
5
UKOIL. Brent in a corrective trend. Mid-term developmentWould like to share my view on UKOIL price evolution from Feb 2016 to the date and a place sort of a forecat for some months in advance. Labeled as educational as I will try to update the chart with some Elliott Wave ratios and targets which I use. Also, will try to explain why oil price depends only on 20% on the spot market and rest 80% is pure speculation. EW main ratio is everything related to 61.8%. On Brent chart, we can see a first corrective wave (A) which started in January and completed back in December 2016. Corrective trends commonly consist of so-called double or triple zigzags which means it will be labeled as A-B-C or A-B-C-D-E. In this case, a bigger Wave (A) consisted of a double A-B-C zigzag where Wave C was 61.8% of a value of Wave A. After a bigger Wave (A) has completed, there was a triple A-B-C-D-E correction which completed a (B) wave on the chart. It bounced from 61.8% of (A) although there was a false-break below that level, when even a weekly candle closed below and it looked as a fully valid breakdown. In my opinion, we are currently developing a Wave A in a bigger (C). It has just stopped today (07.11.2017) on a projected 61.8% Fibonacci value of a previous Wave (A). However, as global equity markets still have a long room to run, I believe price will skip this level and, although some violent retraces are possible, will arrive to the final target of 75 where big (C) equals big (A) which is a common case for correction trends. Resuming: common values are C equals 61.8% of A, C equals A or C equals 161.8% of A. Fibonacci retracement/extension tool has to be used constantly if one decides to apply Elliott Wave techniques for trading. P.S. Bigger wave (A) completed on the 26th of December 2016. Notice the news published on the 10th of December on OPEC and non-OPEC agreement: www.reuters.com Market still went up slightly while COT reports were showing some all-time-high record long positions on oil. Finally, after some weeks of indecision, price went down destroying all longs. P.P.S. Notice as well how oil price bounced back in November 2016. Global equities went down on the Elections day and immediately bounced up, starting a massive rally which is still in play nowadays. We haven´t had a 10% correction in almost a year while all experts forecasted the greatest dump and the biggest risk-off environment in history if Trump was elected. But that´s a topic for another conversation.
FX:UKOIL
by captain_smollett
BTC nearing the top?Hi. Am deep in my sell zone, so am slowly selling a small % of holdings up to fork-day or until it drops back out of my sell zone. Added some random squiggly (guessed) lines to show the next dip and rise - IF we stay within the same channel since early 2017. It goes up to around 13k around Feb! Sounds like madness, but so does the price as I write this : $7300 Perhaps we will spend longer on the middle of the channel - or form a less aggressive channel. I dunno. Good luck!
BITSTAMP:BTCUSD
by darobsta
10
Long Bitcoin CashWho knows what will happen to BTC come November 17th. What we do know is by November 13th Bitcoin Cash will fork to adjust its hash rate difficulty algorithm. "The original Bitcoin Cash “EDA” allowed Bitcoin Cash to survive as a minority chain but produces wild fluctuations of hashrate. This is problematic because it prevents consistently fast confirmations for users, and radically shifts the coin issuance schedule." www.bitcoinabc.org The new upgraded Bitcoin Cash will have one less reason to not buy it. A common argument why Bitcoin cash is a bad payment vehicle is due to the wild fluctuations in the hash rate producing variable transaction confirmation times for end users. November 17th Bitcoin forks into two chains; Bitcoin (b1x) as it is today with 1mb blocks and Bitcoin Segwit2x (b2x) which is the same as today but with 8mb blocks. The community is torn on which fork to support. November 17th we may have 3 versions of bitcoin. b1x, b2x, and BCH. BCH will have had its difficulty adjustment fork and will be a more stable blockchain. Ever wonder why in the USA we only allow two primary candidates to run for president? When two dogs fight the third gets the bone.
BLong
by investing_alt
4
LTC timeline comparison with BTC Gold forkWe're seeing very similar patterns of price action today, 14 days from the 2X fork, as we saw 14 days before the bitcoin gold fork. Something to watch will be a potential repeat of the pattern which drove LTC from $50 to $70 in 2 days If BTC has a large correction from its current all time high of $6900-7000 because of the speed of growth which seems highly probable, then we could see people move into litecoin temporarily as they did before the bitcoin gold fork to protect their gains in a relatively stable coin, which will drive the price rapidly higher.
Long
by TenaciousJ
1