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10 January 2019 / by Bill Noble
The news on Bitmain today reports Bitcoin Cash in the limelight of the technical picture as we look for signs of sales in difficulty and a possible greater dislocation to the downside.
Looking at Bitcoin Cash (BCH) on Coinbase (Figure 1) and Bitstamp (Figure 2), we see that BCH has just hit and obviously rejected the Fibra speed resistance lines. In the rankings of both exchanges, the setup is the same from the start of the November crash. These charts, together with the potential for sale in difficulty by Bitmain, can create a systemic risk for crypts.
Figure 1
figure 2
Another problem with Bitcoin Cash (BCH) is how it could extend to Ethereum (ETH). The image of the Fib speed line for Ethereum (ETH) shows 15 percent of today more seems downhill, just as the beginning of the last two crashes of Ethereum (ETH) in July and November (Figure 3) . The imminent hard fork of Ethereum harkens the ghosts of the Bitcoin Cash (BCH) fork that kicked off the November avalanche.
Figure 3
The same structure of the Fib speed line exists in the total encryption of the market (source: Coinsignal.trade). As with Ethereum (ETH), the structure is the same for the July and November dislocations that are less than total capitalization (Figure 4).
Figure 4
Bottom line: We believe these images are relevant in the future. This could be "deja vu again" with a Bitcoin Cash (BCH) problem that damages the market.
This is the good news Crypto.IQ Trading Desk he was at the top of the Ethereum (ETH) down move from the start. My analysis benefits from this group, especially when they remain a step ahead of the charts and the market.
Join me there.
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