We at Osiris Finance value your feedback and would like thank you for all your interaction with our posts. We are delighted to announce that we have recently included Bitcoin Cash (BCH) forecasts and trading algorithms into our systems and, in spite of recent events, it has been a profitable decision for the Osiris team. We are constantly working hard on improving our algorithms to deliver the best results achievable.
The BTCUSD pair had been in a since last week, although the price movement was insignificant. On October 29, the bears broke the $6,500 price level and the BTC price fell to the low of $6,330.10, to commence its movement. The crypto's price is below the 12-day and the 26-day - a . On the other hand, the is in the range above 40 which indicates a buy signal and that the bulls are gaining momentum over the bears. The bottom line is that the price of Bitcoin will face resistance at the $6,600 price level. If the price breaks the $6,600 price level it is likely to reach the highs of $6,800 and $ 7,400. But if the price is repelled at the $6,600 price level; Bitcoin will find support at $6,200 or $6,000. (Source: https://www.cryptoglobe.com/latest/2018/...)
Bitcoin Cash continued to surge over the weekend in anticipation of its upcoming hardfork, scheduled for November 15th. The value of BCH is now up 28% since the surge began on Friday, and has gone on to exceed monthly highs in the process. The source of the surge is widely believed to be the result of BCH holders hedging their bets in anticipation of the upcoming hardfork. When the hardfork hits just over a week from now, BCH holders will receive a new coin on a 1:1 ratio, and many who would not otherwise have bought BCH may now be buying in purely to take advantage of this scenario. With two competing improvement protocols being proposed by the Bitcoin Cash community, the wider cryptocurrency space will have to choose which one they support. This has been seen in multiple hardfork scenarios in the past – not least in the inception of Bitcoin Cash itself. Currently, the two protocols aiming for implementation are Bitcoin , backed by BCH enthusiast and standard bearer, Roger Ver; and Satoshi Vision, backed by self-proclaimed Satoshi Nakamoto, Craig Wright. Binance and Bitcoin .com have both declared their support for the Bitcoin version of the blockchain. Binance will facilitate the coin swap for BCH holders on its exchange, while Bitcoin .com’s wallet services and other features will also align with the Bitcoin vision. (Source: https://hacked.com/bitcoin-cash-up-28-ov...)
The United States Securities and Exchanges Commission will be announcing their stance on the nine Bitcoin ETFs, which were previously rejected, after November 5, 2018. The commission has set the date as the deadline for reviewing the comments regarding the . In the month of August 2018, the SEC had released a statement rejecting nine Bitcoin ETFs. This included Cboe BZX Exchange’s GraniteShares Bitcoin ; Granite Shares Short Bitcoin ; NYSE Arca Inc.; Proshares Bitcoin ; Proshares Short Bitcoin ; NYSE Arca Inc.; Direxion Daily Bitcoin Bear 1X Shares; Direxion Daily Bitcoin 1. 25X Bull Shares; Direxion Daily Bitcoin 1.5X Bull Shares; Direxion Daily Bitcoin 2X Bull Shares, and Direxion Daily Bitcoin 2X Bear Shares. The main concern pointed out by the Commission for the rejection of the nine ETFs was the prevention of fraud and market manipulation. The NYSE Arca Inc. Bitcoin had received 13 comments, out of which most of the comments were against the approval. The comments claimed the market to be manipulative and prone to Ponzi schemes, quoting the example of BitConnect, Kraken, one of the leading exchange platform, and the pump & dump schemes orchestrated on Telegram. (Source: https://ambcrypto.com/bitcoin-etf-fate-t...)
Crypto project Dash has announced the launch of Dash Text, an SMS-based cryptocurrency transaction service for Venezuelan users, as it builds on its already strong presence in the crypto dependent country. In an announcement released this week, the company said that Dash Text eliminates the need for Venezuelan users to possess smartphones and internet access to carry out crypto transactions, which has historically been a significant barrier to adoption in the impoverished country suffering from hyperinflation. Driven by several months of hyperinflation which have rendered the bolivar practically worthless, Venezuelans have increasingly turned to cryptocurrencies as a solution, as has been illustrated by a series of well-publicised incidents. Dash is looking to build on the success it has recorded in cashing in on the trend by targeting millions of Venezuelans who are not able to partake in the crypto economy because they do not own smartphones or they cannot access the internet. The solution to this problem was built in partnership with BlockCypher, which specializes in blockchain solutions and blockchain agnostic products that enable users to engage with multiple cryptocurrencies through one platform. (Source: https://www.ccn.com/dash-launches-text-b...)
We would like to inform you about our recent trading history. Our algorithms has been trading pretty actively during the weekends. First, the Osiris team bought BTC for 6,347.2 at 9:31 on November, 3 and sold for 6,359.8 at 12:07 later that day. Then, more BTC was bought for 6,358.1 at 15:07 and the position was closed for 6,379.9 at 21:07. After that, the Osiris team has bought BCH for 534.92 at 6:52 on November, 4 and sold for 560.80 at 15:26 later that day. Next, more BCH was bought for 559.00 at 20:07 and it was sold for 574.37 at 23:31 later that day. Finally, today at 9:07 we bought BTC for 6,450.0 and we are still holding it as for now. Overall, our trades has generated an astounding 8.30% return over the weekend.
The following is a scheduled notification from the Osiris team. Our models have been working hard and smart on forecasting the market, and here are the most up-to-date predictions for the next 3 hours:
As usual, red, green and blue rectangles demonstrate predicted values of low, high and close, respectively, with corresponding confidence intervals, and the black arrow illustrates our trades.
According to our machine learning models, the system has recommended to buy and hold within this three-hour period.
Thank you for staying in touch. We are looking forward to your feedback and any suggestions here at TradingView.
In our opinion, it is hard to infer such a long-term prediction from past performance indicators. Our baseline expectations for November-December are slightly more bullish than yours. Ultimately, the overall market trend for the following month will probably be determined by the success of Bitcoin Cash hard fork scheduled for Nov. 15 and by the nature of the SEC regarding Bitcoin ETFs (that has been a hot piece of news for some time now, and the decision is going to be announced shortly, watch out for it). Due to fundamental long-term uncertainty characteristic of any financial market and of cryptocurrency markets in particular, the Osiris team generally sticks with short-term three-hour predictions and integrates past performance indicators with more sophisticated techniques such as news analysis in machine learning algorithms. Personally, we do not utilise Elliott Wave principle mainly because it is hard to quantify so as to adequately process through our systems. However, we acknowledge its usefulness in some trading applications.
Regardless, thank you for sharing your ideas and good luck in your today's trades!
Stay in touch.