Part 1: https://techburst.io/why-i-will-make-1-mil-with-bitcoin-cash-eac347c775e1
The short- and mid Term growing Scenario
After many of you came up with the Question for the mid- and short Term price Movement i decided to show u my current Analysis, maybe u can find something interesting for you.
Bitcoin Gold Fork just ended pushing Altcoins in the green Zone, meanwhile Bitcoin Cash`s Uptrend continues with a surprising Change in the dependence to the Bitcoin price. I will talk about this closer later.
Please Note, this is only my private Opinion and not a financial Advise.
1) A common History
In this Chart you can see the Price History since 1. Aug from both Coins scaled to the Market Cap until 24. Oct and put in one Pic. As you will notice BCH is going more down while BTC is going up and its hard to see anything because of the big Market Cap difference. To get the Details what happened exactly its usefull to scale the BCH Chart up.
Now its getting interesting, BCH and BTC have a quit close relation to each other which changed during the time. After analysing the Chart i splited the graphs in 3 Timeframes:
Timeframe 1 — The wild Time
After releasing BCH the price went up and down searching its level leading to a huge price increase which formed the main Support and Breakthrough line ending at an ATH above 1000 $.
Notice: BCH was not following the BTC price Movement.
Timeframe 2 — the Relation
After the big price spike BCH was going in a relation with BTC forming the Timeframe 2 until the mid Sep something happened. This is what i mentioned in the 1 Part, BCH dropped from 500 $, starting the Downtrend. We will discuss this closer later.
Timeframe 3 — The calm before the Storm
Since then BCH was going slowly down until it hits the main Support line and started to recover. The most interesting part about this Timeframe is the fact BCH started loosing the dependence to BTC. While there were some BTC drops, BCH did not follow all of them. No, it even pumped 2 times while BTC was going down. Now lets find out what we can expact with this Infos from BCH.
2) Analyzing the Key Fundamentals
This is the Chart that lead me to write the story about BCH. Searching for the key facts and possible Uptrends i found out BCH was trying this already 2 Times and is going now for the 3rd run which is the most promissing.
The first try ended with a massiv dump due to the upcoming News China may ban Crypto. In fear many sold and the Uptrend line broke.
After nearly hitting the main Support line a 2nd run was going on which broke the Downtrend line in the end of Sep and it seemed BCH could start a positiv Trend. But due to a massiv dump BCH left the 500 $ Zone while Bitcoin went up.
What was this massiv dump ?
To stay neutral i cant make my thoughts public what this massiv dump caused.
The Downtrend continued until the main Support line was reached leading to a new Uptrend on the horizon.
Remember, here are the facts:
- 1 Uptrend stopped due fear China Crypto Ban
- 2 Uptrend stopped due huge dump
So where are we going now ?
3) The sort and mid Term
The short Term
To continue a positiv Uptrend BCH price must keep stable. The Charts indicates 26–27 Oct will be the important days to see if we can keep it up.
If the first Breakthrough line will be broken (purple one at 340–350 $) we gonna see the first major Step forward. If not price could drop heading to support line before next try in November. This could be a problem with the incoming BTC Fork which could lead to a pump and dump game around the 300 $ Zone.
The mid Term
For the mid Term i see 3 possible Scenarios if the Uptrend continues.
About the Charts key points:
- 26–27 Oct
- Incoming BTC Fork, incoming BCH Fork, testing small Breakthrough line
- Testing month`s ATH line
- Testing 1st Breakthrough line, also new BTC Fork announced for December (BTC Silver, not confirmed yet)
Scenario 1 — Back to the Roots
This would be of course the non plus ultra Scenario. What would be needed to get there ? I think this:
Normal:
- incoming BCH Fork on 13th November leading to a pump, breaking the month`s ATH before or after, depending on the Fork influence
- Community gets dissapointed of all the incoming BTC Forks and dont care about The BTCx2 Fork or the Fork is not going to happen
- BCH Community pushing marketing Strategy to educate more people about BCH Benefits
- more Miners switch to BCH
Abnormal:
- someone takes the advantage of the Community discussions about BTC with all it Forks and the disagreement in the BTC camp about the upcoming Forks and uses the chance to push BCH in the light with a stable increasing price leading to a huge pump for new ATH, breaking the 1st Breakthrough line, building new Support line in the 500 $ Zone and preparing for the next pump. That would be clever….. ok stop dreaming :)
Scenario 2– the 50 / 50 Chane
We got a 50/50 Chane this could happen thanks to the upcoming BCH Fork. But as mentioned in Scenario 1, the BTC and BCH Fork is the main Point which will decide what will happen.
Scenario 3 — The slow Uptrend
If all want still free Money from the BTC Fork, BCH may go down before it, leading to a price increase after it and testing the Uptrend line at point 3. If it breaks through it, Scenario 2 could continue, otherwise Scenario 3 goes on until next try testing the 1st Breakthrough line near the end of December.
4) Conclusion
Personal Opinion
Now is the important Time for Bitcoin Cash to set the right Steps helping the Uptrend to grow, fast or slowly, to make 2018 an awesome year for this Coin.
For me it is clear Bitcoin has a huge Image and is one of the main entry points for newcomers in the Crypto World. Also it is “the” crypto Coin known in the Mainstream. To change this is the most hard way i can imagine.
So why go the hard way ?
Build an own brand ! Talk about the benefits from Bitcoin Cash and educate the people about it ! They will decide what they prefer after they understand the Crypto World.
BCH is already showing signs that it may grow without a dependence to Bitcoin and is on the right way, this should be expanded to make it an independent Coin. If this happens, we gonna see Timezone 1 again.
Also i think most sold already theire free BCH`s Coins, only some Exchanges will hand out the missing soon. As faster as BCH manages to proof its Uptrend the more wont just dump.
BCH may never reach something like Bitcoin in the Mainstream, but who says it will never reach the price ? That is why i believe in BCH and the research in Part 1 and Part 2 is showing me the price will go up soon or later and its only a question of Time when we will see the sky.
Hope you enjoyed Part 2 !
As always BCH donations are appreciated :)
19i4bqN1HyV5WNDXL8jRczSp5aYh9C5qmS
feel free to follow:
