Bitcoin Cash Breakout into Elliot Wave

POLONIEX:BCHUSDT   Bitcoin Cash / Tether USD
We have a Breakout with high volume momentum. This looks good, guys.

All the best luck trading ;)
交易進行: The sails are catching a new wind. The floodgates release when we break through the 3,000 resistance level, which may even carry Bitcoin Cash past 4k into new ATHs (All Time Highs).
Your prediction carries personal emotional in it. just because BCH sending fees is cheap doesnt mean it have to be widely adapt by public. It doesnt have a viable business case to back it up. BCH is just another coin that solve some part of BTC issue and is being scream out so loud in a sudden and create sudden wave. Unless it can have some sort of development behind it, else its going to be like another normal coin. unlike XRP, they work aggressive behind with banker...and that make a different few years along the road from now.
Inspirar bryansu79
@bryansu79, True - the emotion was in the move of the price action buying signals at the time, which ended up moving it about 27% in a few hours time from the 2,260 range up to 2,872 before it ran out of steam.

Other than that, yes, from all the facts I am able to reasonably verify, in my view Bitcoin Cash actually has the fundamentals as the closest coin at present to Satoshi Nakamoto's original "white paper" objectives presenting bitcoin to the world as a decentralized/distributed ledger electronic cash payment system. Where Bitcoin (core) (BTC) has a centralized team of developers, Bitcoin Cash aims to even decentralize the multiple (at least a half dozen) development teams around the world working on many projects. Their site ( states, "Bitcoin Cash is resistant to political and social attacks on protocol development. No single group or project can control it. The bitcoin-ml mailing list is a good venue for making proposals for changes that require coordination across development teams." That decentralization is one of the core foundation principals bitcoin was created upon. So you would have to explain better your view that "It doesnt have a viable business case to back it up", because it sure looks to me to be the best positioned cryptocurrency to fill in the gaps that bitcoin core is leaving with it's now huge cost and often slow unreliable transactions recently.

In my view, it is far more viable to get the 3-5 billion people on earth who do not have access to banking to download a Bitcoin Cash wallet into a smart phone and start using and being their own bank for pennies of what the bitcoin core wallet charges sometimes as much as 95% in fees. That "3-5 billion people" is really the market which will feed the growth the most and I believe basic economics gives Bitcoin Cash the edge. Thus, in my view, it is bitcoin core (BTC) which doesn't seem to have any viable business case to back it up anymore - at least to be used for what it was invented for, to be used as a fast, cheap and reliable peer-to-peer currency. Maybe segwit2x will some day fix the major problems they have now and maybe the Lightning Network will, but the lightning network will also work with Bitcoin Cash and other alt coins as well. Keep in mind they are trying to fix what for the most part is already working fine on Bitcoin Cash.

This is not to say one of the other alt coins will build out and provide a better solution either, as many do look very interesting. Several are even cheaper than Bitcoin Cash to use, but do not have the same size of infrastructure to back it now which Bitcoin Cash already has and is quickly developing more. We shall see where this new technology all develops.
bryansu79 Inspirar
@Inspirar, At this moment of time, its too early to say any coin has a strong business case behind to back the coin up. Everything now is just "in effort" to make their own coin more valuable in the market. Even though BitCoin cash is having development team behind it to make it stronger, even though there is few million ppl that put more in it, for me it's still not a good thing to justify it will be going to be strong or big. In LA Vegas, Few hundred million money is on the gambling table too, does it mean the whole world is going to Las Vegas to gambling for life??? QTY doesnt mean quality... Unless tomorrow major finance institution or government official state that they are going to use Bitcoin Cash, else at this moment everything is just speculation for me.. By the way, this is just my opinion, as what I understand from reading the news around, you dont need to get angry over what I said or try very hard to persuade me into believe bitcoin CASH is going to be king....But nevertheless, continue to explore more possibilities.
Inspirar bryansu79
@bryansu79, I don't really believe in the "king" idea of "the one to rule them all" or getting bent out of shape over such ideas. Certainly, there's room for everyone to carve out a niche in. I agree it's too early to say how it will all pan out. The sky is literally the limit on the possibilities. But I still like to do my homework and consider as much as I can discover in deciding how to weight things moving forward from here; and Bitcoin Cash (BCH) still is one of the best positioned crypto currencies in my book.
I think you forgot to take account to mainstream and people that buy bitcoin/alt without using it as a “Medium of Exchange” but as an investment. Now that they know how volatile it is, many people are going to start dumping it. It makes sense that BCH should be thriving more than this, but most of us forgot about the uneducated people in this scenario.

We all hope that BCH goes up ^^
Inspirar brian.prasetyo
@brian.prasetyo, I hear you, as that has been more or less the main argument Bitcoin core folks have used to hold onto it as a "store of value". To me to take away from a currency the ability to be a real currency (i.e. bitcoin core with the highest cost probably in the world of currencies now) takes away it's innate value. The "value" is degraded to be just another fiat currency ponzi scheme in my view. Whereas, Bitcoin Cash (BCH) is still the original Bitcoin that was created to be a “Medium of Exchange” and still works great. Of course, truth is very subjective these days. All the best
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