Bitcoin Cash - Distractions Abound, But Slow and Steady Wins the Race
The reality of the situation in crypto today is that there is much danger and calamity.
Mount Finex is crumbling and becoming ever more sketchy and ever more dangerous each day. It would appear to me that perhaps they are not solvent. It would also appear to me that many of the pumps that are happening in crypto are related to Tether, are for the purposes of pumping the alt-BTC ratio, and exiting the market.
The reality is that on Friday, South Korea will announce “measures on cryptocurrency trading” according to a Reuters report that is citing a central bank official.
The issue may not be isolated, as OKEx, the Hong Kong-based exchange that just launched Bitcoin Cash main trading pairs ahead of the launch of ViaBTC's Coinex, now no longer supports users from Hong Kong, it's own city.
I now have a feeling that Friday's Korea meeting is related to the Chinese capital flight we discussed in previous Operation Dragonslayer posts.
Yesterday’s market dump seemed to be related to that news. Markets have since recovered.
But, as we’ve discussed in great detail, Bitcoin Cash is the one crypto on the entire market that has the strongest fundamentals.
Because Bitcoin Cash is Bitcoin. Except it works.
This is going to prove itself to be a bigger and bigger deal as the future plays out.
Bitcoin Legacy (BTFee™) does not have a well functioning blockchain. Fees are still $60/byte, a mere 2,900%+ more than Bitcoin Cash
Average confirmation time on the BTFee™ network is at a relative low at a meager ~270 minutes.
Ethereum has proven that it cannot handle itself under the load from even one widely-used smart contract.
Litecoin as discussed, is a very centralized coin in terms of its distribution and its fees, while albeit considerably cheaper than BTFee™, are not comparable to Bitcoin Cash.
And although amidst major market correction, in the absence of a Cashening or a Dragon Slaying scenario, Bitcoin Cash will dump along with everything else, it’s still one of the the safest, if not the only safe bets on the market to hedge your value and your risk in.
The reality of price action is that we’ve now had two 12 hour candles close outside of the prior downtrend line. Price action is now retesting the 0.382 fib retrace from the mania blow off top, Tenkan-Sen has crossed Kijun-Sen. And we have a green Kumo twist, albeit slight, on the 12 hour chart.
The breakout is real, and although it’s slower than some of the other coins are experiencing, these gains are major and real and we now have a trading opportunity that is arising.
After the paywall will be a trade structure thread for trading Bitcoin Cash.
These have been well received. My last, Bitcoin Cash - Be Greedy When Others are Fearful trading thread has scored a 91.67% approval rating. I'm grateful to the community for their kindness and support.
Our Litecoin – Play the Pump and Dodge the Dump thread had take-profit, target, and extended target all hit, and received a full 100% score from readers.
I know we haven’t had a majorly successful Bitcoin Cash trade in a while, so I’m going to do this one at a discount price of $3.88 to ease some of the economic burden on readers.
Ryan also tells me that subscriber functionality is coming soon.
In this post there will be:
- Trade structure, strategies, stops, and targets
- 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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