Updated
BCHABC - Wave Failure
$BINANCE:BCHABCUSDT
$BINANCE:BCHSVUSDT
ABC vs. SV since fork:
BCHABC:
BCHABC Failed Wave:
BCHABC Wave Down:
BCHABC - SELL
Target: $175-$140
Will update.
-AB
$BINANCE:BCHSVUSDT
ABC vs. SV since fork:
BCHABC:
BCHABC Failed Wave:
BCHABC Wave Down:
BCHABC - SELL
Target: $175-$140
Will update.
-AB
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Looks like BCHABC's extra hash power that was resourced from BTC after the initial fork actually hurt BCHABC instead of benefiting the coin...Note
Also, it looks like ABC Group spiked hash power last night when it looked like BCHSV was going to over take BCHABC...This is what I believe caused the Wave Failure....
Spiking HASH helps no one...
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If the Hash war ends, it will most likely change the analysis. I will create a new idea when that happens. In order to go higher, the hash war needs to end.
Markets need stability...
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So let's get this straight...One Camp (SV) is NOT buying, renting, or subsidizing HASH
One Camp (ABC) is buy, renting, or subsidizing HASH
Why? Because THEY (Bitmain, Bitcoin.com, etc) BELIEVES it is the right chain that everyone should use.
Why not just back down and see what the economics show...scared?
If the economics show that ABC is better and gains consensus fine...but please stop trying to influence others...
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This is how a cartel acts...Instead of letting market forces play out they try to influence...
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Pointing these machine to mine BCHABC against the market is expensive for pool operators. If no real market demand emerges for BCHABC, the forced hash will go back to BTC and the BCHABC chain will stop progressing because there won’t be enough miners to mine new blocks.The bottomline here is that BABV does not reflect neither short term nor long term market demand, it is neither committed nor pragmatic hash. It is forced hash.
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It is clear that ABC has forked away from the original Bitcoin design to the extent that there is no real technical way to combine the two technologies (ABC and original Bitcoin) anymore. Many are even suggesting that ABC has implemented so many changes (CTOR, OP_CheckDataSig, and especially their new checkpoints after November 15 hard fork) that they in fact created a new genesis block, and have forked off to something new which is neither Bitcoin nor even BCH anymore. I also saw some people are calling ABC’s new coin “BAB” because it’s no longer BCH, and even the Bitfinex exchange lists it now as BAB.Note
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BCHABC does not look good here...Looks like it wants to go lower...
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A Scenario for the 5th Wave down...Note
Excuse the Above chart.5th Waves usually fall between .382 and .618 of from Fib. Ext. (0-3-4).
Corrected:
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Target remains at $170-$140Note
Target hit.Note
DECLARYING BCHABC ON DEATH WATCH
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.