There is a war going on between BTC and BCH. BCH is going to win however.
Chart: Nice breakout 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!
1) "Whales" sich as Roger are in the process of moving "YUUUGE" stacks of BTC (think 25K plus BTC ) in order to sell .
2) Currently, there are around 175,000 unprocessed BTC transactions on the network. Users are experiencing in excess of 24 hour wait times on their BTC .
3) This thing is largely driven by Asia and their largest exchange crashed last night causing the crash in the first place.
4) Massive sell walls erected at .30 across multiple exchanges. These sell walls are meant to prevent the price of BCH from advancing beyond .30 while Whales like wait for their BTC to show up and dumping to commence.
BTC Longs - this is the eye of the storm but the calm is only temporary.
Keep an eye on the order book for the cancellation of sale wall orders. Once those walls are canceled, the flood gates will open again and rally will resume.
HODL! (Your BCH. Dump your BTC )