Prior to sharing charts keep in mind the markets are incredibly irrational regarding Bitcoin SV and as the famous saying goes: “The markets can remain irrational longer than you can remain solvent.”
I expect a bloodbath in “Crypto” as the market adjusts prices based on fundamentals. BSV may not escape this bloodbath but if it happens BSV should be the first (and only) to recover.
If you understand the tweet below then you get what I’m saying.
BitCoin is not Crypto.— Coinspeak (@coinspeak_io) October 16, 2019
Crypto is not BitCoin.
Meanwhile, the fundamental story of BSV remains very strong. Covering BSV fundamentals is more than a single post on a blog, it’s an entire multi volume encyclopedia, but for starters watch the videos below. Keep in mind that Craig Wright is not always easy to understand. It will take effort to get the message but it’s worth it:
Now, onto some charts:
4H ascending triangle. Watch for a break of either trendline. Ascending triangles are usually formed as continuation in bull trends but they are bullish no matter when they form. Click for big.
4H Ichimoku Cloud. This indicator shows price above cloud and has 3 buy signals in the past few days. The buy signals on this chart are custom signals I programmed. The signals indicate price has moved above trend and all the cloud indicators are aligned for trend to continue. Click for big.
4H 50/200 Moving Averages. Price has moved above the 50 MA but is still below the 200MA. The buy signals flashed here because price moved above the 50MA and stayed there for 5 candles. The second buy signal is when the price tested below the 50MA and then again printed 5 candles again above the 50MA. This shows some strength building in an upward trend. Click for big.
I’ve been tweeting about the Mayer Multiple for BSV for a few months:
Finally the BSVBTC pair has a Adam and Eve pattern playing out.
It’s premature to claim any of these charts indicate a new bull trend but they are worth watching. Until BSV breaks free of mirroring the moves of BTC then I expect BSV does what BTC does and that’s not a good thing for BSV near term.
BSV may be a King Without A Crown but given the fundamentals I expect a big 2020 ahead.