BTCUSD
is HOLD! Cycle Wave:
Complex Correction:
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The BCH fork did affect BTC but BTC has good support at these levels.
I think BTC is fine here and will be going back up shortly. I will update the analysis if I see anything change.
Will update.
-AB
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Note the Price line - Resting on top of Wave 1 Terminal
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Hash War needs to end to go higher...
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Reminds me of TLRY Chart
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Looking for a decisive snap back up or spike...
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If there was not a Hash War, I would give BTC a buy...like my previous analysis
Still remain bullish...
Still remain bullish...
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careful selling here...
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Here comes the snap up...
Here comes the snap up...
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You can blame Bitmain and Roger Ver for this sell off...
Selling BTC to finance Hash for BCHABC...
Reputational damage is going to be significant if it turns out BCHABC does not win...
Selling BTC to finance Hash for BCHABC...
Reputational damage is going to be significant if it turns out BCHABC does not win...
Comment:
We have not yet seen Nakamoto Consensus in true action as it was ruined by a market manipulation last week during the BCH hash vote. Bursts of transient hash (especially hash taken from customers of cloud mining on the rival BTC network) are not Proof of Work meant to decide Bitcoin rules as envisioned in the original Satoshi white paper and are a form of cheating. Under a true Nakamoto Consensus vote, this would have been decided easily in favour of Bitcoin SV to restore and lock the original Bitcoin protocol and enable massive scaling, since over 70 percent of sustained hash supported locking and scaling leading up to the November upgrade. Bitmain and Bitcoin.com should not be rewarded by the exchanges for cheating, and should not get the BCH infrastructure.
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Additionally, CoinGeek and friends will make sure that no one in our camp launches any legal proceedings related to the manipulation of customers’ BTC hash or last week’s DDoS attack on CoinGeek’s website.
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Price-Action looks good here.
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Wave holding...
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Wave failed
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Note Price line
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Still bullish
Have not yet reveresed seintinment...
Have not yet reveresed seintinment...
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BTC drop cake down in 3 waves
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*BTC still came down in 3 waves...
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3 waves implies it is a weak correction
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Teetering on support though...
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Bullish Formation
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BTC changed to STRONG BUY.
Target: $6300
Time Estimate: 24 Hours
Target: $6300
Time Estimate: 24 Hours
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Please visit the new idea for updates.
Order cancelled
