So BCH hit .479 for a second and then crashed down to .17 in a matter of a few terrifying minutes. But immediately bounced back and is currently "stuck" between the .61 and .73 fib ratios.
BTC is bouncing between $6000 and $6200.
So what's going to get this party started again?
There are only 400 BCH for sale up to around .29 and then at .30 there are 1,900+ for sale on binance and the other exchanges. This sale wall is preventing BCH from advancing beyond .29 in price.
At the same time we know that Roger Ver is transferring massive amounts of BTC onto the exchanges in order to sell.
Here's what's happening:
The sale wall is to keep the price of BCH from advancing beyond .29999 while the whales such as Ver xfer huge sums of BTC onto the exchanges in order to sell from BTC into BCH. BTC networks are congested and it takes awhile to get confirmed. Once the next batch of 25,000 or 50,000 BTC gets deposited, expect the sale wall to miraculously disappear and rally mode to continue hard core. (think the run from .32 to .47.
If you missed the earlier rally today, this is your chance to get on. THIS IS HAPPENING. DON'T BE A STUBURN BTC BULL WHO BECOMES A BAG HOLDER. BCH IS BITCOIN.
There's a war going on here...
코멘트
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The number of unconfirmed BTC transactions is at 175,000 !!!
The sale walls are still up at .30
Looking at the chart, a nice triangle has formed and BCH on the verge of resuming its rally as soon as whale deposits show up. Its a sort of race...
Love it. I think people don’t realize that once Roger Ver sells his BTC off to BCH he won’t be buying BTC back unlike whales last night. BCH is the new standard.
AvgJoe2019
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Yep
ImmortalTrader
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Tale for the kids. This sounds like some superhero tales for the children.
I hope you're right?
I feel this market is heading for the 750 to 800 region and then consolidate there for weeks before the next bull run.
Segatron
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@ImmortalTrader, i Think youre right but it could still jump into the party zone one more time before crashing