https://www.tradingview.com/chart/BCHUSD/MrWt1kSJ-Bitcoin-Cash-Daybreak/
It's been a while since there's been an opportunity for a long trade on Bitcoin Cash, in terms of what's safe and responsible to call at least.
Looks like we've found that situation.
BCH has diverged from BTC primarily because the BCHBTC pair has finally broken out above 0.18, Market Makers have absorbed the dumps, and have continued to push price up.
BCHUSD price has followed in kind. Perhaps we are seeing operators and retail players show their hand early in 2018 as to what their intentions are between both Bitcoin chains.
Bitcoin is a demand backed currency and the reality is that demand is waning as the fees and unconfirmed transaction issue continues to persist. People are looking for alternatives, and that's one of the reasons coins like Ripple and Ethereum have gone on pumps.
Bitcoin Cash was, is, and always has been a scaling solution for Bitcoin. Although I don't have the time in this post to illustrate this, if you take a dig through history you'll see that Bitcoin Cash is merely a trade name for a user-activated hard fork proposal to scale Bitcoin. Segwit and Segwit2x were also user-activated soft/hard fork proposals.
Bitcoin is genuinely decentralized, regardless of how Blockstream would like to twist that narrative. Because of that, nobody owns it and can control it. The solution play always is and has been to fork during calamity in Bitcoin's future, and market demand and miner investment will determine which chain lives, and which chain dies.
That's what we're amidst today.
This trade is best traded on a 6H candle closing above the wedge line at $2,550
The basic post can be found in the TradingView link above.
In this post there will be:
  • Trade structure, strategies, stops, and targets
  • Insights on the Bitcoin Cash futures market
  • Insight into the situation with a possible black swan for Bitcoin Cash
  • Multiple updates as price action progresses and as news progresses
Average trade structure post so far has gone on for 24-48 hours and has had ~10+ updates provided along the way.
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Comments
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Bitcoin Cash is business. PERIOD. Bitcoin Core is slowly starting to realize this and even accept it. Bitcoin Core is loosing UTILITY really really fast. This is deadly in a fasts moving and chancing eco system like the crypto eco system. Bitcoin Cash will take over and become good old regular bitcoin. Just a matter of time. The only real option that Bitcoin Core has at the moment is a blocksize increase. They have also created so much badwill with how they threated everybody that many people will be glad to be finally rid of Core Developers. Bitcoin ABC is doing great. We will see more and more Bitcoin users switch to Bitcoin Cash, why? Because they are forced too! Ethereum will also see more and more users but don't make the classic Bitcoiner mistake! Ethereum is just a blockchain base layer, that layer does not have be used only for currency. This is great! We have a very strong crypto called Bitcoin Cash that might become accepted worldwide as real money. And we have a general purpose blockchain system with Ethereum. Those two combined are powerful beyond recognition. Nobody knows what is going to happen next. But .... keep in mind that a big market crash is possible. There is a specutalive bubble right now becaues the hype is insane. Lots of crypto that don't offer much utility have prices that are ...well illegitimate. The market prices on these will eventually go to zero. So be prepared but also realize that a market crash is a gold opportunity for people that are prepared for it. And never forget that crypto is in it's wild west state. What can happen will happen. This type of power is different and harder for any single person to control.
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Black Swan event?
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always great!question: are u scared about the strong correlation with btc? altocoin are running, there are really good projects, bitcoin is losing his dominance day by day....will it brake bch too?
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Strategy depends on your risk tolerance and time horizon but it should be noted that a pull back to the 2400 area creates an inverse head and shoulders. For my investment plan, the risk of getting stopped out here and missing the upside move is not worth selling and hoping for a lower entry. This thing is a monster waiting to be unleashed. Big PRs are coming in Q1. Strong hands advised.
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update please
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