BCHBTC likely fake out, moving towards 0.1BTC

8 Feb 2018

Haven't been following BCH lately; just noticed how much it jumped last night. Earlier than I expected. I was thinking it needed to go to 0.09BTC first.

I believe it's a better version of BTC, but these bit-series coins are addicted to hashpower --- this means their price movements are more closely-tied to moneyed interests.

We can see that

• it tends to trade between 0.1 & 0.2BTC
  
• its pumps are powerful & quick & its drops are slow & long
  
• there are fake outs
  

To identify, I think we can check the up-crossing of 7D SMA over 15D SMA:

• when at the crossing we have a green candle (marked on chart), we can look forward to 0.2BTC
  
• when at the crossing we have a red candle (unmarked), it's probably a fake out
  

This time, it's still too early to tell, but judging from the level from which the pump started I guess it's going to be a fake out.

Also, the volume is too low for a real breakout. Half of the volume is from OkEx, which has no fees for wash-trading (maker gets 0.1% from the taker).

8 Feb 2018

Catatan

already falling a bit. I think a good entry is indeed under 0.1

9 Feb 2018

Catatan

0.1BTC is what I meant

9 Feb 2018

Catatan

Pump round 2?