Bitcoin Cash - Where There's Smoke, There's Fire

Friends, before we begin, let us have a moment of silence.

For whom?

For all of the people who have been deceived this last week into selling their Bitcoin Cash below $1,500 and at BCHBTC ratio levels as low as 0.13.

Those are now locked in losses that are hard to recover.

Regardless, we have ourselves a real, high volume breakout of the major downtrend line, have retaken on the 0.236 fib, Kumo twists green... literally all the indicators show nothing but strength.

Next stop? breaking/regaining the $1750 area and the uptrend line from the current run.

I've posted a brand new Yours. This article does not have a trade structure and is all research and analysis, including a new perspective on the infamous Operation Dragonslayer.

Thank you guys so much for your support and taking the time to read my stuff. I really appreciate it.

Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party: (https://dafoh.org/petition-to-the-united...)
Comment: Good morning and happy trading. Overnight it looks like we managed to hit $1640 while Bitcoin Legacy raced to a new all time high. How complicated!

Price action currently sits in an ascending wedge that is slowly breaking down. Expecting it to, if it follows the recent patterns, drift sideways/up/down for a while before further movement.

If there's interest in a trade structure for this price action, please reply to this thread and let me know.

Last trade structure both had its stop hit amidst the dwindling volatility and had its take profit hit.
Comment: New update on my Yours (in my signature) with an optional and extensive trade strategy for those who are interested.

Price action is looking healthy and it looks like we have an opportunity for a long trade, although there may be a major bump along the way...
Comment: New update to this thanks to some inspiration from @imkeshav (https://www.tradingview.com/u/imkeshav/)

It appears to be beyond obvious that Bitcoin Legacy is actually being pumped by Tether/Finex/Blockstream while Bitcoin Cash is not

Comment: Teaser:

(670 - 140) * 3.3 = ?

Check the post for conclusions!
Comment: Okay the above math is actually not the conclusion I'm trying to make. This is because I suck with math.

Teaser is wrong. Conclusions in post are still right.

Help, I'm alive!
Comment: First update to the trade structure as well.
Comment: Update to the trade structure thread in light of recent dumps.

The good news? Trade still within parameters. No need to panic.
Comment: Further to the previous update, if this is a situation where you want to "buy the dip" I'd recommend waiting an hour or so to see how the market reacts and confirm it's not a trend reversal before increasing position size.

I should have clarified that. My bad.
Comment: New update to the trade post as the selling continues.
Comment: Update to trade post

Price action looks the same among many coins

But is still within the parameters of the trade so long as consolidation at this level persists.
Comment: New update on Yours. Entering a heated period of time. Perhaps this early sell off across all markets was the prelude?
Comment: New update on Yours. Shoutouts to all the readers. I really appreciate all the people who are subscribed and reading the trade structure.

If you benefit from the post, please take a moment to sign the petition to end the persecution of Falun Gong by the Chinese Communist Party.

Right now almost all markets look the same. It's a difficult time to trade.
Comment: I come as a messenger from the future

Comment: Update #8 for those reading. We are now within a range where we _could_ see a reversal...
Comment: Bitstamp launching Bitcoin Cash pairs tomorrow


The big significance of this in my opinion is BCH now has a major fiat off ramp. All there was before was Kraken, which is... difficult to use... at best...

Comment: Update #10 for Yours readers. In the absence of FUD or disruption, we may have some proper bullish momentum coming.
Comment: Ratio pair is monster troll

Right now I'd say most likely when the whales are happy with their inventory size that things will proceed.

For now, things are a little sleepy.
Comment: Okay, Update #10 live. Thanks KingMR lol.
Comment: Hungry for Operation Dragonslayer Material?

I gochu', fam.

A Further Analysis of Operation Dragonslayer FUD

Comment: Update #11 up as well. Nice breakout.
Comment: Update #12. The black swan that we discussed has been published and yet BTC monsters forward all the same.

Ain't Tether great?
Comment: Updated trade thread with an update from the source of the black swan.
Comment: I know the market continues to dump. Do not be afraid. There are no promises that sell pressure won't continue and no guarantees that Bitcoin Cash won't enter a downtrend.

That being said, if you understand what Bitcoin Cash is, you will see it as an opportunity to build a position rather than an opportunity to sell a position.

But I leave that to you to decide.

Right now BCHBTC ratio is being dumped. BTCUSD is being pumped. Alts are being pumped, which means ALTBTC pairs are being pumped.

Seems the money is flowing Alts --> BTC at a high price, while BCHBTC is conveniently a very low price.

It seems like sentiment is turning on BCH. I wouldn't be surprised af we see an uptick from here...
There are some alts that are going way up right now and not down.
Crypto Kitties seems like a fun distraction from the real story? It's a great traffic clog to the BTC biggest competition at least.
BCH sure is a hell of a Roller coaster.
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