(Verbose details and optional trade structure on Yours (in my signature))
Right now there is a lot to be happy about. Bitcoin Cash just revisited, for the first time since the November run, the $2,000 mark. It's not a surprise it was sold off after a manic +30% run, and is now consolidating. This is very normal and this consolidation may continue for a while before further upward movement.
The reality of the situation in crypto right now is the following.
South Korea, as said before, is holding a meeting or has held a meeting, can't tell which, but is announcing what measures its taking to regulate/control the crypto market "Friday".
Mount Finex has printed themselves an additional $125,000,000 Tether.
Yet, despite that, we are in a bullish flag pattern after a major break out, which is a continuation pattern that indicates further upward movement.
Fundamentals are critical, but for daily trading, technicals are what matter the most, and we have them.
Check my Yours post for more info.
== Stop the Organ Harvesting Persecution of Falun Gong Practitioners by the Chinese Communist Party
Trade structure, strategies, stops, and targets Insights on the Bitcoin Cash futures market Insight into the situation with Bitmex Multiple updates as price action progresses and as news progresses.
Price action is currently within the buy zone in the strategy, although it is prudent to look for bounces at the moment.
Also, bullish news out of Korea. Unsurprisingly, it doesn't appear they're banning crypto.
New update on Yours. Read past Korea news. Small update on price action. So far, this is normal.
Something else is less normal, though.
$55,000,000 more Tether just printed.
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Looking good for further upward movement
If you were following the trade structure, you now have a very nice beginning entry point to the trade.
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Bullish flag pattern still on. If you're following the trade, you're now sitting $100 points in profit and we're looking at an additional opportunity to add to the trade.
Caveat being BTFee can pump at any time with the Tether that's been printed.
$1850 is a great price for Bitcoin Cash though isn't it?
Looks like we have ourselves a breakout and stage 2 of the accumulation portion of the trade has looked pretty good.
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Caution friends. Tether is starting.
New update coming in a couple minutes to Yours
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New update on Yours for trade thread.
BTFee mooning is real and it's going to affect all markets. Caution should be exercised and Tether should not be underestimated.
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There is chatter on Twitter right now that Mount Finex is legit compromised. Possible False Flag.
This is something I have thought is the case since the Tether hack and the day everyone got margin called and NEO and OMG and ETP etc dropped to bottoms.
I cannot advise for long trades at the moment because of this. That being said, don't sell your core position in panic.
Stay calm and watch the situation. Chatter is still only chatter.
Will keep trade thread updated as opportunities arise.
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Update to trade structure on Yours. Overnight consolidation gives us an opportunity to build a trade, as we may see a reversal pattern.
BTFee has hit a new all time high, but it's not a big gain. I expect further upward movement, but if it can't find that, this may be the top.
200MM Tether makes me feel like it's probably not the top, but...
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Small update. Consolidation looking healthy
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Update to Yours post as well. Looking like we're in a good spot to build on our long trade for further upward movement.
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Soon, soon.
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No new update to Yours, but if we get a close above the target line we have another opportunity to add to our position.
Bitpay is now accepting Bitcoin Cash as a card/payment processing solution.
Bitcoin Legacy was trading for this price in the first 6 months of this year.
Think about that.
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Update to the trade thread. BTFee™ may have some moon coming to it, so we need to be careful.
If it moons, expect numbers like $25,000.
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New update to Yours. BTFee™ reaches a new high and yet Bitcoin Cash does not dump.
Trade still active.
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No updates because, well, there hasn't been much to update. I am a little surprised that both ratio and USD holds well while BTFee pumps.
Breakout point at this point is denoted on the graph. Don't underestimate BTC. There is more coming.
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I expect Bitcoin Legacy to break the $20,000 mark today and it may do so on major velocity. It is unclear how it will affect Bitcoin Cash pricing, but if it knocks the ratio pairs down on all other coins again, then the USD prices will also correct.
No reason to believe that a sudden DragonSlayer event is going to happen, but the BTFee™ difficulty adjustment that's coming today is going to have a major, major effect on the market, in my opinion.
I have a new article up for trading Bitcoin Legacy in my Yours.
For this trade, I would advise, at present time to exit long trades in profit/break even and stay flat until CME Futures opens Monday morning.
I do not recommend selling any of your core holdings.
I love that you call it BTFee :D Seriously I paid $12 to make a transaction from my BTFee wallet to Bittrex a few days ago! I just cannot align myself with that. BTC has been destroyed and the vision of a peer to peer electronic cash system certainly belongs to BCH. Luckily for humanity, we have some fantastic human beings that spotted this dangerous development and stepped in. People may not see the whole picture here, but those who do, know exactly what I'm talking about...
@Skillz89, Yep, we who see are the few, the proud the silent (or in my case not that silent). There is a war going on. But the force is strong in the resistance movement, just stealthy.
@Skillz89, check out the Bitpay link that Rivers just provided. Fee per kilobyte :
Bitcoin cash - $0.021
Bitfee - $60.82
It's hard to believe people other than the Tetheral Reserve can still support the Legacy chain.
They say Bitcoin Cash does not have decentralisation but that is fear mongering B/S.
I am a Korean. Don't worry. The government's announcement will be perfunctory. There will be no problem with investing in cryptocurrencies.
imkeshav
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@TonyPark, Hey man! What's this craze for Bitcoin Cash in Korea, is it because it is very low entry for something that is very similar to bitcoin or is there are large volume coming from china through Korea?