BITCOIN CASH - STRONG BUY.RALLY MODE-ENGAGED. BITCOIN LEGACY IN CORRECTION MODE.
Super basic chart.I do not give investment advice. This is merely what I expect to see. Act accordingly.
Long story short - BUY BITCOIN CASH. Expect it to gain .55 to .85% of Bitcoin price this run. The great flippening is happening. Won't be all at once this weekend. Expect a...
This is really an update to my previous chart just after the rally.
There is a war going on between BTC and BCH. BCH is going to win however.
Chart: Nice breakout wedge forming and narrowing!
Key support levels of .21 and resistance of .29 due to massive sell walls at .30 designed to prevent BCH from going higher. Read on:
Here's what's going on!
Massive cup and handle formation with a clean break out of the handle today.
Bitcoin Cash is the superior bitcoin and "flip" places with Bitcoin as we call it today. BTC has gone from just shy of $8K down to $6600 while Bitcoin Cash briefly "false crashed" down to $540ish on Wednesday to have nearly doubled by Saturday morning.
Do your own DD or let me save you...
MGTI is the largest miner of bitcoin in the U.S. but only a portion of their total rig count is up and running. MGTI will have 4700 mining rigs Q1 2018 with approximately 3500 up and running early January.
1) Massive Cup+Handle Formation
2) Triple Bottom
3) Falling wedge / Handle
4) Q3 earnings come out Nov 9 (likely after hours). The earnings...
Shares of MGTI have strongly corrilated with shares of GBTC and now the shares of MGTI are selling off into earnings while GBTC has rallied. A sharp pop in shares of MGTI is very possible due to the action of GBTC as off late. MGTI has also ramped up their bitcoin mining opperations buying 2000 more Antminer S9 miners. With these new miners alone MGTI will...
MGTI up 27% in the last 2 trading days. Expecting good news next week that will get us the rest of the way towards breaking out of the handle.
No doubt, it's coming. The stars are aligned. Business makes sense, revenue is dramatically increasing and the charts have thrown us three big bullish indicators.
Cup+Handle formation over 14 months
Falling Wedge more...
10/26 Update! LOOK FOR BREAK OUT CONFIRMATION OF $2.70 FOR PROFIT TARGET OF $4.50
MGTI certainly seems to be on its way, up +18% today. Still at less than half of where we're going!! :)
I'm looking for us to cross $2.56-$2.60 either By Tuesday but this is MGTI - could be sooner or later - this is crypto.. but my gut says within the next 3 trading days.
GBTC could be getting ready to make another run to $1K.
Falling wedge and current trend developed over last few days suggest we're heading for a breakout.
The real hangup is the premium associated with GBTC. It traded as high as 130% when GBTC made a run to $1050 and collapsed as low as 20% a few days ago.
Currently trading at 30-31% premium.
GBTC and MGTI -...
MGTI - Could MGTI be the 2017 equivalent play of buying Apple at $20? I think so.
Take a look at my previous chart for the case behind why MGTI will break out and will trade over $10 in 2018.
The earlier chart focuses on the past few months, this chart looks at May 2016 through November/December 2017 to show the broader trend at play.
You can see there's a...
This has not been a good week for MGTI. Throughout October MGTI has been getting beaten up by shorts but this week. Today was a doozy with MGTI dropping 13% on double average volume (2m vs 1m avg).
Low of $1.63% bounced off (exactly) 38.2% FIB level from $4.26 High. Next support level is $1.30 if we fail to hold here.
Despite nothing but positive news in...
We're completing the 4th (corrective) waive right now. A perfect storm is on the horizon and MGTI is about to reverse and head to the moon.
1) Notice how we're stick around key Fib levels.
2) Support $1.91 - also the bottom and we'll go up from here.
3) Increased institutional investment; 16% of shares currently.
4) Huge gap between BTC price and...
Mark my words, MGTI will see multifold gains in 2018 with $6 in January very likely.
MGTI is the largest U.S. bitcoin miner and they are rapidly expanding their mining operations.
MGTI will have 4700 mining rigs up and running Q1 2018 and generating over 60 Petahash and north of $2 million in monthly revenue - or $1.3MM EBITDA assuming recent prices and mining...
GBTC - a bitcoin investment trust and MGTI a bitcoin mining and crypto security company have moved in a correlation to bitcoin throughout 2017 up until October 2nd where BTC has taken off into full fledged rally mode while leaving GBTC and MGTI behind.
Looking at the edge formed in GBTC and MGTI strongly suggest we'll see a breakout in share price for both as...