If BTC sees some consolidation around 10-12k then holders might see value buying back into Grin.
This is the first area of interest, where the price of Grin has fallen back down towards previous resistance( which has now become support)
Price breaking down lower. Possible retest of the area it broke out from around 35k-40k ?
* i'm feeling abit uneasy that Grin's lead dev( Igno) has missed the last 3x weekly meetings and hasn't been around in public chats for the last 3-4 weeks. Where is he? There's alot of work to be done at the moment with the hard fork next month and not having Igno around...
Bitcoin is going parabolic. Magic trend lines haven't been breached during this whole move up.
Bullish until price at-least breaches that magic red trendline. Could be moving into a blow off top.
Grin spiked up on Poloniex on 19/06 to a high around 75155 sats( around $7). This coincided with a Buy alert from a pump ground called Palm beach research group who told their subs to buy Grin up to $7 on Bittrex or Poloniex.
whilst Poloniex hit 75155 the price of Grin didn't make it over 70000 on most other exchanges. Also, to note that the spike up to 75155...
Some "back of the envelope” style analysis explaining how the current $GRIN break out differs from the previous March *false break out*
-In March price increased a max of 54% from ATLs, this time price has increased a max of 136%( so far)
-From the March move, price made it’s high after 9 days and then only took 18 days before it made new ATLs again. This time...
Buyers continue to dry up in the Poloniex orderbook. From 22.x total BTC down to 17.x total BTC, while total sellers remain more constant.
When longs get aggressive(cross the spread) and buy up the offer there is no real follow through which results in the wicky looking candle sticks marked by arrows.
I'm still very much bullish long term but objectively hold...
There is a big single 9000unit sell order placed on Poloniex @ 41199( biggest sell order I've ever seen hit the book) this is what put pressure on the sell side and pushed price down from recent highs.
TA is for kids. Chart is for the moon boys. Pull back into at-least the channel mid-line @ 35000.
-Price is still over bought relative to BTC for no good reason. There is no value in BCH's recent volume/price spike, when the BCH chain is comparatively weaker than ever vs BTC.
Thus I think there is quite a compelling case to short BCH.
"BCH has dangerously low hash rate. A couple of medium sized bitcoin miners can wipeout the chain.BCH has laughably low...
Large magnitude move into lows, with a large volume spike. Big orders to support price also showed up in the futures contact(GXBT Jan17). There was single 100 lot entered and filled. The dump is over. Miners will now start transferring Alt coins into BTC.
