• Cryptocurrencies: 2073
  • Markets: 16056
  • Market Cap: $102627732469.09
  • 24h Vol: $9821077949.1763

BCH Hard Fork & Internal Drama Short

Bitcoin Cash isn’t in great shape, there community cannot save them from the upcoming civil/hard fork war.

It is well known within the community that Bitcoin Cash is currently being propped up by Jihan Wi, the CEO of Bitamin, the Mining Giant.

A tweet released by Wu attacks, SBI Holdings, the investment arm of the financial Services giant for attacking Bitcoin Cash by helping one of the co-founders to control the network.

This follower many experts who have stated that the Bitcoin Cash network will split if the upcoming fork goes ahead.

This war coupled with the increasing downfall of the Cryptocurrency Market as a whole, leads to Nouvive to recommend a sell for Bitcoin Cash from the current levels to $292-$200 – in time for the fork.

Let’s look at the technical data:

Bitcoin Cash despite the overgrown market sentiment – with their community ranking as one of the largest within Cryptocurrency. This has had no impact on Bitcoin Cash who has dropped close to 50% over the past 2 months.

Moreover, the ultimate negative media sentiment towards Bitcoin Cash and Bitmain who has been called out for their hyper inflated valuation of $14 Billion, means the institutions do not have a liking towards Bitcoin cash.

The chart below plainly points out the mere fact that there are far more sells than buys as you progress closer to our take profit mark of $295-200.

The last time we did see the higher $200 figure was in September 2017, just following the Hard Fork from Bitcoin.

 

Nouvive recommends a Short from $420-425 to $280, increasing Stop Losses in Profit. 

 

Nouvive: Home of Crypto Beginners, Traders & Investors. Nouvive provides Cryptocurrency trading news, Analysis and indicators for beginners, traders and investors.

Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

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485

ViFeed Indicators

Bitcoin (BTC)
$3254.45
46.00 RSI
0.30%
Hold
XRP (XRP)
$0.29
49.00 RSI
-1.13%
Hold
Ethereum (ETH)
$84.79
53.00 RSI
0.47%
Hold
Tether (USDT)
$1.01
45.00 RSI
0.23%
Hold
Stellar (XLM)
$0.1
56.00 RSI
-1.21%
Hold
EOS (EOS)
$1.9
43.00 RSI
4.39%
Buy
Litecoin (LTC)
$23.91
47.00 RSI
2.42%
Hold
Bitcoin Cash (BCH)
$78.34
40.00 RSI
-2.04%
Buy
Bitcoin SV (BSV)
$67.19
58.00 RSI
-5.98%
Hold
TRON (TRX)
$0.01
38.00 RSI
0.57%
Buy
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