Bitcoin is rallying and the longer-term chart has also turned bullish. as the signal pushes lower, we can see prices have stayed strong and sustaining its level. A low risk setup to the upside is occurring.
Foot Note:
When analyzing this chart, you will notice the Slow Stochastics indicator. I find this indicator to be the complete indicator compared to the vast majority out there. Lets explore the terms I will be using. Also use the indicator based on its respective time-frame:
Time-Frame:
1 hour - Lasts 1 hour - Few days
Daily - Last Days - Week(s)
Weekly - Last Week(s) to Month(s)
Term used:
OB - OverBought (above 80)
OS - OverSold (Below 20)
Bullish - Above 50
Bearish - Below 50
Trend - Cross up in both channel line or Cross down in both channel line.
People are buying Bitcoin to be able to get Bitcoin Cash (BCC) during the split. Remember if you have Bitcoin, some exchanges will not give you BCC.
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Seems there have been a few exchanges not willing to provide for BCC.. I think that BCC might be an overachieving split if no one supports it out of the gates and will be dead in the water.
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