- 48 is waaaaaay below 192 , but it's leveling out!
- As can be seen with the dual offset bollingers, were seeing some serious consolidation.
- MACD & SSRSI have both formed new swing lows
- Weve broken through S1 & S2, will test R1 within a few hours
And now for what really has me scratching my head, the Fundamentals!!!
Folks, I'll be real...this is plain weird.
It's february 27th 1:45PM EST
The Bitcoin Private fork is taking its snapshot sometime tomorrow (block height has yet to be announced).
Never before have I seen a crypto in the 24 hours prior to a snapshot in this much of a slump. I suppose that the community response to the announced BTCP fork could simply be incredibly lackluster, but in my experience it's pretty likely that we will see a serious uptick in and an allout scramble for BITTREX:ZCLBTC sending the price for a pretty heavy rally.
Could this simply never happen and the current downtrend continues on its way?
Sure, but I have serious doubts of such a flat response to a fork, no matter its community impact .
Remember though, if you just plan on riding a fork rally you should ALWAYS exit your position as soon as the snapshot is taken to avoid getting buried in the deluge of people offloading their coins post fork.
If on the other hand you are actually taking advantage of the fork, HODL for dear life. It may take a day or two, but most coins recover post fork; it's just a matter of waiting for the sell off to finish.
*** Note that the crossover strategy I've written has the hidden, and that the earning results are irrelevant as it used for cleaning up major trends NOT buys and sells.
*** The dual / source code can be found on my page if you're in need of a simple space saving indicator!
This analysis is meant for purely educational purposes, and whether you choose to trade on it or not is entirely on you!
Remember, TA is neither investment advice nor a guaranteed science, but rather an informed attempt at prediction based of historical and emerging patterns!
Good luck and happy trading fellow cryptoheads!
Looking at the 1hr chart a couple weeks back we can see a sudden plunge in price leading up to this point where you can clearly see things are rocketing off from.
I truly believe we may be looking at a few whales driving the price down in preparation for a pre-fork mass buy up. Its only been a couple hours since my original post and we're already up 8%!!!