BTCStrategies
Long

BCH Pushing too Hard - its Hammer Time and Volatility City

BITFINEX:BCHUSD   None
Zooming in on a 5m chart shows that we are still pushing that red line, however we've got enough volatility to keep this run going. We did see that BART formation, but it was quickly resolved as the bulls continue to flip BTC into BCH.

Looking on various off-site charts, we can actually see that BTC is losing its dominance of the crypto market while BCH is staying constant if not growing, and the alt coin "other" category is increasing quite quickly. The ratio of BTC->BCH is still higher than BCH->BTC. The overall market capital of both has increased significantly though, giving the BTC->BCH valuation an extra boost.

Lots and lots of hammers showing that the bulls are trying and succeeding to push the price up. Every close below the last is either a dragonfly doji or a hammer . Good news for those looking to get in still, there is no signs of a stall beyond the slight volatility - i.e. those leaving the market are being replaced just as quickly by new bulls. Volume looks more green than red, and there are constant sizes showing that we've not got an over-push.

RVI looks good, and the V.I.(+) seems to be bouncing every time we see the V.I(-) start to creep up.

I am not suggesting anything, I am just stating what I see. This is not trade advice and I can not tell you what to buy, this is just a hobby for me. I am not an adviser, so do not take what I say as advice, just observations and opinions.
Oooooh, you are just about the only one who sees that this is really a horserace between BTC and BCH!!
And this is how I see it - as a non-trader but clairvoyant person ;-)
https://www.yours.org/content/bitcoin--btc--vs-bitcoin-cash--bch----why-the-traders--and-everyone-e-1079d2553f4a

+1 Reply
agree on analysis, thanks
+1 Reply
A very interesting TA, but your chart look like the nine circles of hell:).
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@JTJV42, Its based off the related idea. I just didn't clear the lines. ;-)
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very good thanks
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