BTC 9k was broken, BCH has been galloping, past every resistance day after day, and where are we now?
We're pushing the redline way too hard. This is where we look to GREED getting the best of good traders. I am not suggesting pulling anything off the table, because this momentum is just astounding, however there is some real concerns here. It would be prudent to at least set some stop losses up, however most exchanges only provide USDT stop-limits and not stop-loses.
This has been an absolutely outstanding run, with BCH still outpacing BTC, but BTC has been getting some real pumps that end up pumping BCH. We've passed a 0.15 BTC/BCH ratio, which is a nice mental block. Next stop is the 0.2BTC/BCH and then we've got 2 outcomes - "The Flippening" and "The Flop"
"The Flippening" - BTC users continue to exchange BTC-> BCH and BCH becomes the more dominant bitcoin-fork.
"The Flop" - BTC users (probably using Tether) pull their earnings off of BTC, causing the value of BCH to crash and the reflex of BCH users to exchange back BCH->BTC, most likely causing a 0.1BTC/BCH ratio to return.
Right now, BTC(Core) still has substancial sway on the value of BCH. However, as AntMiner has been burning BCH, they may be attempting to stabilize the value by creating a "lost funds" vacuum to allow for the effects of BTC to be less evident while also making the remaining BCH more valuable. Bitcoin.com also has indicated that in May, BCH will be reintroducing OP codes and allowing for more innovation to occur. We will see if that happens though...
We're pushing the peak of the V.I(+) but V.I(-) doesn't want to stay this low for long either. We could see some violent volatility soon, but that's half the fun... Right? (Channeling Roger Ver)
RVI says we are good to go, we're not pushing up too hard, but again, that's most likely due to the fact that V.I.(-) is so low. I would call this a false-positive indicator for a sweet spot. Caution here with the interpretation.
Volume is just going up-up-up and its green for days on end. This is good news to counteract the false-positive RVI, however with high volume, we should start to see the bears try to scalp the market.
Also, remember, we're still technically in a bear market. Just because we've had an outstanding week, doesn't mean this is a signal for the end of the slump. Never invest more than you're prepared to lose. Legally, I must inform you I am not an adviser, and this is only a hobby. You make the trades, I just state what I see speculatively.
We're pushing the redline way too hard. This is where we look to GREED getting the best of good traders. I am not suggesting pulling anything off the table, because this momentum is just astounding, however there is some real concerns here. It would be prudent to at least set some stop losses up, however most exchanges only provide USDT stop-limits and not stop-loses.
This has been an absolutely outstanding run, with BCH still outpacing BTC, but BTC has been getting some real pumps that end up pumping BCH. We've passed a 0.15 BTC/BCH ratio, which is a nice mental block. Next stop is the 0.2BTC/BCH and then we've got 2 outcomes - "The Flippening" and "The Flop"
"The Flippening" - BTC users continue to exchange BTC-> BCH and BCH becomes the more dominant bitcoin-fork.
"The Flop" - BTC users (probably using Tether) pull their earnings off of BTC, causing the value of BCH to crash and the reflex of BCH users to exchange back BCH->BTC, most likely causing a 0.1BTC/BCH ratio to return.
Right now, BTC(Core) still has substancial sway on the value of BCH. However, as AntMiner has been burning BCH, they may be attempting to stabilize the value by creating a "lost funds" vacuum to allow for the effects of BTC to be less evident while also making the remaining BCH more valuable. Bitcoin.com also has indicated that in May, BCH will be reintroducing OP codes and allowing for more innovation to occur. We will see if that happens though...
We're pushing the peak of the V.I(+) but V.I(-) doesn't want to stay this low for long either. We could see some violent volatility soon, but that's half the fun... Right? (Channeling Roger Ver)
RVI says we are good to go, we're not pushing up too hard, but again, that's most likely due to the fact that V.I.(-) is so low. I would call this a false-positive indicator for a sweet spot. Caution here with the interpretation.
Volume is just going up-up-up and its green for days on end. This is good news to counteract the false-positive RVI, however with high volume, we should start to see the bears try to scalp the market.
Also, remember, we're still technically in a bear market. Just because we've had an outstanding week, doesn't mean this is a signal for the end of the slump. Never invest more than you're prepared to lose. Legally, I must inform you I am not an adviser, and this is only a hobby. You make the trades, I just state what I see speculatively.
