In light of recent TradingView censorship, the majority of this post will be on my Yours (in my signature). The post is more verbose and has some images that I can't post here anyways.
There will also be an optional trade structure/plan for those interested, as we do have ourselves an opportunity for a long trade.
Check out my Yours (in my signature) for the rest of the post. Follow me on Twitter (in my profile) as updates arise.
The boys at Yours also recently integrated TradingView ideas, so show them some love and I'll have the post there up in about 5 minutes after publishing this.
If you liked this analysis and/or profit from this trade, please sign the petition to end the organ harvesting of Falun Gong practitioners by the Chinese Communist Party. Please spread on social media as well, if you'd be so gracious.
I thank everyone for all the tips. I really appreciate the kindness and know the money doesn't come easy.
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Update to the Yours trade. If you were following along, you're already sitting in profit.
As always, happy and safe trading.
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New update on Yours about what this small divergence could mean, plus possible revised targets...
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New update on Yours. Not much to report, but we do see bullish signals on other indicators as well.
Trade is still normal. Markets are just low volume and indecisive.
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New update on Yours. Guess who got more pump and pump juice?
Price action looks good for Bitcoin Cash none the less. Trade still in profit and on target.
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Update on Yours for readers. Good morning!
We sit at at weird spot with Legacy price action, new Tethers released, and a market very prone to fake outs and shake outs.
It is difficult to trade, but I'll let you make your decision for how to handle it from the ideas in my update.
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An unexpected breakout! Looks strong. Update on Yours for those reading.
It was expected if you also watched the btc/Bch pair. It was near a major support zone
RiversAndMountains
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@ecicic, Yes, it's a common pattern, but market makers have kept ratio tight while sentiment is increasingly bearish on BCH while increasingly bullish on BTC Everyone lives under the shadow of Tether.
Frankly, I do not believe that pattern is sufficient basis to expect a 15% breakout on ratio.
zetski
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Hiya,
Been following your analysis for quite some time. Much appreciated. I'm a fan of the TD 9 indicator - with BTC, we're currently on a TD 9 sell (weekly, month) and tomorrow a TD 9 sell for the daily. I'm pretty sure we're going begin correction tomorrow.
My thoughts are the entire market will correct along side BTC. I'm suspecting *narrative* that next week we'll see BCH rally up (narrative = bitstamp listing/difficult adjustment etc).
Thoughts?
RiversAndMountains
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@zetski, I'm only vaguely familiar with the TD indicator as I don't use it, but TD produces crowded trades and Tone Vays likes to organize his organic botnet around it, so you could see that kind of price action. Though I believe last time we saw it get squeezed.
50MM new Tether incoming too.
zetski
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@RiversAndMountains, Ha! Possibly. I did come across it because of another user and Tone Vays. Granted, it works quite well for other coins like ETH. And I can see the BTC price climbing.
Do you have any suggestions for an exchange that offers BCH trading on margin? Other than bitfinex..
RiversAndMountains
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@zetski, Okex BCH Futures is the only thing there is I believe.
Gaengphed
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@RiversAndMountains, I just commented at Goldbug1's BTC chart that looking at various coin charts I also have this feeling were going to see the basement tonight/tomorrow. For safety I went sideline. I might miss something but it's not worth it to wake up tomorrow and find out I got crushed ;-)
hyperspeeds33
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@zetski, I have the same indicator from Tone Vays personal consulting, 9 sell on the daily, weekly, monthly, we're about to see corrections on BTC, for possibly the next 1-4 months, until a breakout of the last high of 11734, or whatever it was. He describes it in his most recent video anyway. With such a big confluence of the indicator and my faith in Tone Vay's expert analysis, I expect BCH to rise when BTC falls.