Comparing BTC and BCH - could the dream of inverse correlation become reality?
Right now BTC and BCH stopped running parallel. Could this be the start of an inverse correlation or is it just a coincidence that BTC is correcting longer than BCH?
BTC seems to make a longer lasting double correction (WXY double ZigZag) while BCH just continued the uptrend after a short correction.
At this point I doubt that it will be a permanent inverse correlation. I must highly doubt it, because it would be wayyyy tooo good to be true.
If you don't get why a permanent inverse correlation would be the single best thing since electricity and the internet, don't be sad. I will tell you the short version of the story:
If you can always buy the one coin low, sell high and buy the other one low to again sell high, your tradingaccount will double every two weeks..... or much faster.....
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If you think this to be useful information:
DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Tell me what you think...
Have a nice day :-)
BTC and BCH have both started going down in sync again, and it could soon start to drop hard again. BCH has now broken out of a bearish wick patterns which is also a possible ending diagonal.
they are still pretty correlated, as are the vast majority of cryptos. All seem to follow btc lead. If btc drops by 50%, all other cryptos will be heavily down.
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Hello Sneeky Ninja :) What's up??
Same case was with eth and etc a while ago.
really, do you know roughly when that was? I will look into it
I was stinkin the same as libert. BCH will become like ETC...which means it will pretty much go nowhere (with a downward bias) unless BTC has a major deadcat bounce...on its way to zero. :O
Last year August I guess,
https://m.imgur.com/gVRk9Ca
Interesting pattern! Thx
... a little proposition by the way
@ew-and-patterns, if you agree to resteem one of my post i resteem this one (it's a true offer not a spam)
I like your posts and I follow you. But I can only resteem crypto / steem or important news related posts, because that is my niche. But thank you for the offer.
Interesting point, i think bitcoin cash will eventually to die, but is just my opinion
Thanks for sharing.
I think it's best to have some coins with both. If it will die, then better profit from it while it's still alive.
Very good point! maybe sell when goes back to 600$
Oh my!That's getting close. What would happen to everything if they go in opposites??
Upvoted and Resteemed.
Thanks for sharing some insights about crypto world. Let's hope for the best of both BTC and BCH so everyone will be happy :)
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