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!
1) "Whales" sich as Roger Ver 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 Ver 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)
Trade ist aktiv
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We're back on! at .25 BCH and climbing. BTC is sinking into the abyss.... yes!
You have it backwards. Dump your BCH with another pump and buy more BTC. BTC as a store of value is not going anywhere. BCH will be used as the name indicates, as cash not as a store of value.
mightytrader
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@getbits, I agree. I trade to earn more BTC. But BCH... Wow! That is amazing! Roger Ver rocks! PROFITS!! $$$
Why you areso emotionnel ? first rule of a trader ==> no emotions
jdharward
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@shaouari, I'm not? But Its pretty obvious to me what's going on. Hard to rally when the sell orders are 65 BCH for sale at .3499 and 1950 for sale at .30 when we know BTC TX are backlogged with 175K - come on now.
Sabibaby
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@shaouari, Say all you want, emotions are soaring right now. People are waiting *DAYS* to move their BTC from point A to point B that can be nerve racking no matter who you are!
jdharward
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@Sabibaby, Exactly! Its over 180K unconfirmed TX now!
cryptomizer
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@jdharward, Old info. It was fixed. Miners moving back to BTC now. Roger Ver and Bitmain manipulators))) They will make big money out of you))))
tianin
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@cryptomizer, I totally agree with you. It's a sick game and many fall for it. BTC won't go anywhere anytime soon.