No post on Yours for the moment, so I'll say what I can here.
BTFee difficulty has adjusted another 20% upward and Bitcoin Cash pumped around the same time, evidently in response.
If you recall to last difficulty adjustment a similar phenomenon happened, which led to a dump and a new BTC high.
This time, things seem to be different as price has shown stability and upward movement instead of being dumped. BCHBTC ratio pair follows, and hashpower has followed as now Bitcoin Cash is now 23% more profitable to mine.
BTFee™ by comparison is not showing momentum, but as with all things, these things can reverse as they're manipulated by larger players.
Currently, price has broken out and quickly reached the first target at the 1.272 fib.
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Anticipation will be for this to be the formation of a flagging pattern and consolidation above $2,000.
It may dip under $2,000. Core positions should be held this early into a movement.
BTC is still looking correcty.
Price action is still normal. Nothing is unhealthy. We merely had a 40% move upwards in the span of a few hours.
Price action needs to confirm and continue upwards. However, this ain't no pump and dump.
That being said, Bitcoin Legacy is very likely to revisit $20,000+. We'll see what happens, though.
Breakout looks like it's confirming. See thread for advice on what to look for if it doesn't race straight to $2,400+.
We are still consolidating and awaiting upward movement. It's starting to feel like we should be close based on where price is ($2,100+ sustained), the choppiness not necessarily being bearish, but, will we see a repeat of the past?
May affect other markets, including Bitcoin Cash.
We continue to watch.
Things are dangerous.
Especially when you wake up to Bitcoin Cash dumpstering BTFee
Worthy of note is Bitcoin Legacy's all-time high leading up to the August fork was $2,900.
Bitcoin Cash really is Bitcoin. New update to Yours.org trade post.
Trade carefully. Next target incoming. Expect BTFee to reverse and reverse sharply at some point.
Funny how they vanish into thin air as soon as Bitcoin Cash starts to move upwards, but are here trying to deceive everyone into selling their coins at a loss when we traded sideways, isn't it?
Target hit, however. Let's wait and see what happens and how price handles $2,800, the prior all time high.
No shit to talk now that Bitcoin Cash > Bitcoin Legacy's July price?
I made a call for targets of $3,500 and $5,500. Unfortunately TradingView deleted all of my posts last month and they're no longer present.
But, here we are.
Coinbase news is real. Litecoin is no longer relevant.
Bitcoin Cash is Bitcoin.
What is Bitcoin capable of, again?
I believe that there is still more to come, but it's very important, especially with your trading position, and especially with margin trading, to make sure things settle before re-entering your positions.
Will post a new trading thread after things settle a little bit and we get some more clarity.
Congratulations to all the strong hands that have been holding all these months.
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