BCHBTC trade ideas
BCHBTC, BCashBCash failed and people realized that it is not Bitcoin but just a useless coin for miners. TD indicator shows a slight possibility of a bounce tomorrow but it should fall further down. Sell volume was rising on 4h chart. Overall, the chart will be identical with other pump and dump shitcoin charts.
Will BCH bottom with the difficulty adjustment? While we aren't in the business of picking bottoms, it's interesting to note that the Bitcoin Cash algorithm (the program that runs the Bitcoin Cash protocol) had a -72% difficulty adjustment in the past 24 hours. This makes it easier for miners to mine new blocks and increases the speed at which blocks are mined, increasing the odds that a miner will mine a new block, and making the practice more profitable.
The Bitcoin and Bitcoin Cash protocol aims for 6 blocks per hour, or about 144 blocks per day. This rate is controlled by the algorithm's "difficulty adjustment" which acts like a thermostat: if blocks are mined too rapidly, the algorithm becomes more difficult and vice-versa. In the past 24 hours, the Bitcoin Cash difficulty adjustment dropped 72% and the pace of blocks mined increased to 493 blocks, making the business more profitable.
Trading volume of the Bitcoin Cash token has increased in the past few hours, however, the price continues to decline. Whether or not a key bottom is reached at the same time the difficulty adjustment drops precipitously will give us a clue as to future conditions that may impact price behavior. Future charts will need to include data as to changes in difficulty adjustment and block mining profitability.
Remember, this asset class is brand new (Bitcoin Cash is only 2 months old!) and the investment community is still trying to determine the variables that drive price.
More on this development in future updates.
BITCOIN CASH - READY TO CLIMBStochastic on multiple timeframes shows oversold conditions and MACD seems to be bottoming out above neutral. If we have enough support to keep MACD positive we should see a move up soon.
I'm going long at .136 :D
BCHBTC buy above 122500now not decided trade way, i think will be long , but after 12550 is better to long entry,
BCHBTC long Above 0.1374 Tp at 0.1548 then 0.1756 then 0.195BCHBTC long Above 0.1374 Tp at 0.1548 then 0.1756 then 0.195
recent SOS in backgroundwith recent SOS in background and price action moving in a trading range established by 2 main trigger lines (yellow at top and bottom) where have buying and selling pressure.
potential up movement to test recent trigger levels while price above base price marked as blue on chart.
Strength in backgroundSOS in background potential accumulation phase . waiting for move up while price action is above lowest trigger levels.
Strength at swing low with recent weaknessSOS at low with recent very high volume up bar closing at middle means recent weakness at previous base price level. if price remains AND ONLY IF above trigger levelS we can see test of base level again and more up.
