Bitcoin Cash Wall Observer

[79b79aa8]

all right, i'm going to make some calls, for fun and glory. these are highly fallible predictions. they most likely will be wrong, and in no way constitute investment advice.

• present BTC rally tops at $17K, or by dec. 15, whichever comes first.
• BTC floor is $3.2K
• anything below .11 BCHBTC or $700 USDBCH is a buy
• BCH 24 month price target is BTC ATH

 

[Snokkom]

My prediction;

• Rally Bitcoin core tops at $12k this week or next week
• Bitcoin core floor is $3,5k
• BCH bottom is 0.13
• BCH in 2 big waves @ 0.6/0.7 end of the year.

Early 2018 parity. Newbies can choose between a ''store of speculation/value/drama''(Bitcoin core) or a ''store of value'' AND means of exchange (Bitcoin Cash).

Bitcoin Cash FTW

 

[adamstgbit]

My prediction;

• welcome to the BTC top the bubble has popped
• BTC floor is $5K
• anything below .13 BCHBTC or $1700 USDBCH is a buy
• BCH 24 month price is 8000$ USD and rising slow and stead (bitcoin is a dieing altcoin pretending to be bitcoin)

[doublepost=1512000999][/doublepost]oh and BTC will double top in ~2weeks

 

[79b79aa8]

the bubble has popped

i know, price today is merely the same as yesterday :'(

but in case it has profits were taken out in a timely and orderly fashion. RICHTIG?

 

[adamstgbit]

i'm calling it.

of course market is unaware that its already over, and so we might actually hit a new slightly higher ATH in about 2 week, before it becomes apparent....
lets keep this super legit info hush hush

...16hours later 13K BTC...

lmao wouldnt that be funny

 

[adamstgbit]

BCH is looking very buyable today.

 

[adamstgbit]

the market is either at the greed or denial phase.

talking about the BTC market ... obviously.

 

[adamstgbit]

looks like greed.
10500 should be very strong res, but i'm not seeing any walls anywhere.
looks like 12000$ is the new short term target.
this is bonkers.
welcome to the top
[doublepost=1512013492][/doublepost]i should have left the trading page open so i can hit ctrl+z

[doublepost=1512014156,1512013222][/doublepost]OH there we go 1 bear showing his claws after briefly breaking 10500

GDAX must be filled with nub traders or something?, the price spikes up and down there have been way more intense
[doublepost=1512014216][/doublepost]this is the play by play coverage of the finial moments of BTC's dominance

 

[adamstgbit]

I dont normally take a super close up view, but tonight every hour there's a crazy move to watch / track.
watching the game on http://bitcoinity.org/markets/bitstamp/USD, havnt done that in a long time.

I'm VERY bearish at this time.
even if price manages to recover and push higher... ill just double down on bearishness.

the way i see it, their is lots of resistance up above, very little support down below, and a whole lot of MOFO market buying. this WILL end badly.

annnnnnnnnnnnnnnnnnd 10500 is gone.
still no visible strong resistance, keep your eyes peeled for hidden orders filling fallowed by a big sell, this will call the top of the bounce. ( my money is on 10750 ... in ~30mins we'll see. )

 

[adamstgbit]

its looking shaky, this might be it.
[doublepost=1512017873][/doublepost]if reading this thread and watching price isn't making you super fearful idk what will.

 

[adamstgbit]

i look around on the internet and i see NO ONE talking about the BTC bubble popping...
the most negative thing i could find is talk of a deeper correction before continuing
no one has the balls to call tops anymore.

i'm calling it "the finial moments of BTC's dominance"

here comes big red

 

[adamstgbit]

i guess btc going for a double top. ¯\_(ツ)_/¯

 

[79b79aa8]

but you've instilled doubt

 

[adamstgbit]

but you've instilled doubt

ya but only to a couple BCH'ers

and even you guys see me as :

[doublepost=1512137232][/doublepost]maybe bitcoin can do a paradigm shift top
13750 in ~48hours?
that would be impressive / stupid move.

 

[adamstgbit]

https://www.coindesk.com/cme-begin-trading-bitcoin-futures-december-18/

The cash-settled contracts will notably find investors buying exposure to a custom reference rate created by CME and partner Crypto Facilities, and will not require the custody of the underlying asset.

prediction this "market" will be trading >21million "bitcoins" a day within 6months.

 

[79b79aa8]

these are not bad news (within the context of how today's financial markets operate), and it is not some kind of paper-BTC trading.

1. a futures market minimizes volatility. currency speculators are able to go leveraged long / short BTC price on a USD-settled contract. if BTC price starts rising (falling) too sharply, pressure mounts from the shorts (longs), and tends to correct.

2. the market settles in USD, so does not directly affect BTC trading volume. of course, the contracts need to be backed up, so if derivatives trading volume increases, more of the underlying asset needs to be held by the issuer.

3. the futures market gives the ability to traders to speculate on BTC price without ever holding the asset, or incurring the associated custodial risks. up until now, derivatives traders were required to own BTC in order to post margin on futures trading platforms.

4. however, existence of a mature derivatives market is a precondition for a establishing a BTC ETF, which does directly affect BTC volume, as institutional and retail investors are able to get exposure to BTC, without incurring the associated custodial risks. ETF investors, unlike derivative traders, are betting on growth.

 

[adamstgbit]

1. a futures market minimizes volatility. currency speculators are able to go leveraged long / short BTC price on a USD-settled contract. if BTC price starts rising (falling) too sharply, pressure mounts from the shorts (longs), and tends to correct.

I think in the short term its going to make more volatility...
maybe when BTC finds a stable price ( 10K is very unstable ... ) THEN the futures market will start to act like a price anchor.

2. the market settles in USD, so does not directly affect BTC trading volume. of course, the contracts need to be backed up, so if derivatives trading volume increases, more of the underlying asset needs to be held by the issuer.

thats what i would think... but they say that "will not require the custody of the underlying asset."
maybe i'm reading that wrong, the issuer holds BTC and their users "will not require the custody of the underlying asset."

but idk about this... do they need 100% reserves? do they even have BTC reserves as of this moment?
are they selling puts / calls, wtf is their "product"

4. however, existence of a mature derivatives market is a precondition for a establishing a BTC ETF, which does directly affect BTC volume, as institutional and retail investors are able to get exposure to BTC, without incurring the associated custodial risks. ETF investors, unlike derivative traders, are betting on growth.

so its official then, the bubble will keep inflating until the ETF investors come in and triple the price.

well fuck me.
[doublepost=1512150099,1512148978][/doublepost]naaa you are just dreaming buddy.
when the futures market comes online, and provides 0 buying/selling pressure, the market will react, and by that time everyone will have bought the top, so theirs only one way to go.
and a year later its all going to end with a spectacular long squeeze.
but by that time all the cool kids will be using BCH, we'll just lol as wall street trips over itself speculating on a purely speculative asset that will soon prove itself completely unusable.

remember, you heard it first from me.

 

[79b79aa8]

the issuer holds BTC and their users "will not require the custody of the underlying asset."

that's right, currency traders on the floor need not learn about cryptography, but the bourses must hold BTC, they are regulated by the CFTC.

their product are contracts. in particular, futures contracts, with margin.

if BCH goes to >40% BTC price, all of this will replicate itself for BCH.

if what you are arguing is that ppl are pouring money into BTC in the expectation that derivatives trading will force price up, you are right, it need not.

the ETF is a different story but by the time it is ready to hit the market investors' feet may be significantly colder.

 

[adamstgbit]

price is at critical point, we either have a double top in the making or we're going to hit 13K.

 

[adamstgbit]

i changed my mind, BTC will triple top.

[doublepost=1512192827,1512191904][/doublepost]ya these are really crazy numbers....all this before next Wednesday!

you are going to shit bricks as you watch it all go down EXACTLY as described above.