Bitcoin Cash — 100 stories, 100 opinions, 100 pro and cons
What is this coin ? A useless forked Bitcoin ? Or maybe it is the “real” Bitcoin ? Or just an altcoin which is going to die ? Who knows, but….
…..on the one hand Bitcoin Cash is controversial since the first day it was mentioned leading to a big argue between the two camps until now, on the other hand it has some different technical aspects. This is what the most people know about Bitcoin Cash, this is, lets say in the “light” at the moment.
But in the shadow of Bitcoin Cash something is going on that i want to share with you and i think the time is now to take a closer look at Bitcoin Cash.
This is a try to look behind the scenes and make a NEUTRAL prediction for the future of Bitcoin Cash based on crypto history and charts.
I belong to the people that believe 1 picture is telling more then 1000 words, i hope you enjoy the review and leave a comment !
The Crypto History — a foreword
When we look at the crypto history we could all learn 1 essential thing:
“ A top has always a bottom and a bottom has always a top”
Keep this in mind while reading the following analyze.
1) Bitcoin Cash — current Chart
What u can see here is the current chart of Bitcoin Cash, from the releasing date until now. Also there are some analyzing tools ON:
RSI
The RSI is a tool to see if it is worth to invest in an certain coin at a certain time, it is showing if a coin is over — or undersold.
ADX
On the ADX chart u can see the Volume (black), the buy (green) and sell (red)
Vol Roc
Vol Roc — is showing the Volume rate of Change
Williams %R
Williams %R, sometimes referred to as the Williams Percent Range, is a momentum indicator that measures overbought and oversold levels, comparable to a stochastic oscillator. The Williams %R is used to establish entry and exit points in the market.
Read more: http://www.investopedia.com/terms/w/williamsr.asp#ixzz4vwxKz1gz
2) Crypto History
You just saw some random charts of some of the Top 10 coins. While watching this charts did u notice anything ? I noticed this:
And now study please this charts:
Quit interesting what u just saw, right ? So we noticed:
- when the Coin goes up (blue) it will also come down (red) and the other way
- seems its always the same with the Breaktrough and Support line
- some charts looking quit simillar
All in all there is something like a “sheme” the coins are following:
- Starting Pump and forming 1 major Breaktrough line (on the high) and forming 1 major Support line (the bottom the pump starts)
- Dump until or a bit above Support line
- Testing Breaktrough line
-> IF gets through it, huge pump incoming
-> IF fails, dump and trying soon again
This sheme u will notice in many other coins, feel free to check it. I explained it here really short, there is much more to say. Support and Breakthrough lines moving with the time and u need to split them to 2nd 3rd layers and so on.
This is also the way the Twitter Gurus and so on are able to predict future price movements, u can scale this to days , months, hours and so on.
3) Theory
So i guess if you are still reading this, you admit this looks clear to you or sounds interesting. Maybe you should take a brake and watch the charts again to build you an own opinion.
I suggest you to do this, because there is something interesting for sure :)
Lets look again at this charts:
Lets look closer at this part:
Now lets look at this:
and this:
one more:
and the last one:
Interesting right ? Found any Mistake ?
.
.
.
.
.
.
Surprise, surprise, who we got here. Now check the chart above again. Do you think this could be legit ?
Well i think so and now i will show you why
4) Why i will make 1 mil. $ with Bitcoin Cash
Now i will show you WHY Bitcoin Cash is going for a huge rally in the Future. Note, this is only my personal opinion and no financial advise:
At the beginning i showed you this chart but what does it tells me:
RSI: Bottom reached, good time to buy.
ADX: Trend change incoming, green and red line will cross soon, Volume getting better.
VOL ROC: Accumulation phase since mid September.
Williams: Buy !
Bollinger Bands showing possible Trend change incoming.
This and the facts above in Crypto History lead me to this expection:
On the first big pump form Bitcoin Cash we saw a huge increase from ~300$ to above ~1000$. This formed the main Support and Breaktroughline.
After that Bitcoin Cash went down like expected and formed the 1 Breaktrough line ~500$ end of August. It stayed there a bit to gain attraction. It was a phase where the question was, will BCH survive the dumping from all the free BCH holders and go to test the Breaktrough line again or not. When it was clear it will fail, 500$ was crossed and the BCH supporters let it go down and im 100% sure some clever ones were the whole time accumulating BCH the way down to the main Support line.
This started in the end of October, check the ADX, u will see selling getting above Volume and buying going down. In the same time you see the VOL ROC with heavy spins, showing this is not a hot stone falling from the skies, No, its going slowly down because some accumulating.
We reached now the Main Support line and yes what we saw in the last days, this pump to 450$, well this was nothing surprising, it was clear something will happen soon, support line was hit ! I personally think the real BCH rally will start after the BTC fork in November. Because then there are no more events huge money amounts will go to BTC. Im sure im not the only one who can make some lines and analyze what the future is for BCH. The real supporters got theire bags nearly full and now the 2nd buyers incoming like me who get it too late whats going on.
I expect a first price increase and some pump and dumps after the fork on 25th. The real price increase after the November BTC Fork heating BCH to test the main Breaktrough line. And this will be already a x3 in gains from now on.
God save us all when BCH breaks the 1000$ mark (main Breaktrough line), you already know what happened in the History of other coins :)
Maybe im totally wrong with this high expectations for BCH, but 1 thing i believe, BCH will go up, soon or later this will happen :)
I hope you enjoyed this review, got a small smile on your face and forget for one moment which is the better coin ;)
and if u liked it, a donation in BCH is of course appreciated :)
19i4bqN1HyV5WNDXL8jRczSp5aYh9C5qmS
feel free to follow:
EDIT: Bitcoin Cash Fork set for 13th November !
EDIT: PART 2 u can find here:
https://medium.com/@leongust/part-2-why-i-will-make-1-mil-with-bitcoin-cash-eff4b52ab30f
