For now, EMA 20 as support and EMA 200 as resistance. If support and yellow trend line breaks, support around 2489 might catch BTCUSD. IF resistance breaks, however, we might accelerate to the green rectangle. From there, 2609 will be the trigger for breakout. IF this happens, I will analyze alts, which will follow BTCUSD, and provide entries on Twitter. Also, note how the ADX just fell below 20, indicating a weak trend. Do you see the flag when zooming out on BTCUSD? Are we at the end of the flag and will we accelerate further with the length of the pole of the flag? We will see.
We need to observe closely on what is going on. Stay tuned.
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Finally it went through EMA 200 AND it triggered. Looks bullish and strong.
I can not believe it will go up now, go to the bottom
The market is watching carefully for the BCC Hardfork initiated by viabtc on 1st August.
The idea of BCC is based on the UAHF idea of bitmain which they announced as answer to the UASF.
Whats happening now is that it got a new name and is from viabtc so that bitmain is not longer involved. But the truth is that bitmain is the main investor in viabtc.
The real reason for this fork remains unknown, one can only guess. But its obvious that bitmain is the key player in this event. It's also the company which profits most from asicboost.
Its likely that BCC will get dumped after a few days. But then we will come closer to the 2mb hardfork from the segwit2x proposal and this blocksize increase is unlikely to happen because with segwit blocks wont be full anymore. With the agreement broken some miners could start to pump BCC trying to overtake BTC or just dump the accumulated coins to people not having BCC anymore and need it to hedge their investment.
Just my thoughts on it
NoCode326
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@mozartc, I think BTC is going to explode higher in the coming days leading up to the 8.1. The fork is overblown and it's the only thing holding Bitcoin back at the moment. Price just blew through downtrend line tonight. Not even a pause. FOMO will hit very hard tomorrow.
I can not believe it will go up now, go to the bottom
The market is watching carefully for the BCC Hardfork initiated by viabtc on 1st August.
The idea of BCC is based on the UAHF idea of bitmain which they announced as answer to the UASF.
Whats happening now is that it got a new name and is from viabtc so that bitmain is not longer involved. But the truth is that bitmain is the main investor in viabtc.
The real reason for this fork remains unknown, one can only guess. But its obvious that bitmain is the key player in this event. It's also the company which profits most from asicboost.
Its likely that BCC will get dumped after a few days. But then we will come closer to the 2mb hardfork from the segwit2x proposal and this blocksize increase is unlikely to happen because with segwit blocks wont be full anymore. With the agreement broken some miners could start to pump BCC trying to overtake BTC or just dump the accumulated coins to people not having BCC anymore and need it to hedge their investment.
Just my thoughts on it