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Bitcoin Cash

Bitcoin Cash Set To Hard Fork, Again

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Bitcoin ABC, a development team behind Bitcoin Cash have announced the full details of the next Bitcoin Cash update (hard fork) set to roll out on the 15th of November 2018. The announcement is so far in advance of the update, as Bitcoin ABC have a responsibility to ensure that people are ready for the update and that none of the technology behind Bitcoin Cash are affected by the roll out.

The update is now live and ready to be downloaded and implemented, but as stated, the update won’t actually go live until November. So in essence, if this affects you, download now and forget about it, the rest will happen in good time, automatically.

According to the official Bitcoin ABC announcement:

“We are pleased to announce that Bitcoin ABC 0.18.0 has been released. You can download it at: https://download.bitcoinabc.org/0.18.0/. The goal of Bitcoin ABC is to help create sound money that is usable by everyone in the world. We believe this is a civilization-changing technology which will dramatically increase human freedom and prosperity. Bitcoin ABC 0.18.0 represents the next step towards this goal. Bitcoin ABC 0.18.0 includes implementation and activation of the Bitcoin Cash network upgrade that will take effect on Nov 15, 2018. All users of Bitcoin ABC should upgrade to version 0.18.0 as soon as possible.”

So what does the update include?

“The specific features included in the November 15th upgrade, and provided by Bitcoin ABC 0.18.0, are:

  • A new opcode called OP_CHECKDATASIG that improves the BCH scripting language to permit the validation of messages from outside the blockchain. This will enable uses such as the use of oracles and cross-chain atomic contracts.
  • The introduction of canonical transaction ordering. This is a technical building block that lays the foundation for massive scaling improvements in the future.
  • Several minor technical fixes and improvements.”

These updates are carried out to ensure that everyone on the network has access to a fairer and better product, therefore these updates are not simply just to keep developers busy, rather they are designed to address the needs of everyone, from miners to investors and general users of Bitcoin Cash. As cryptocurrency with a huge pro-adoption community, these updates are also designed with adoption in mind, therefore within this, Bitcoin ABC want to make Bitcoin Cash better for the average person to use. According to their official announcement:

“We aim to work in the best interests of miners, investors, and users of Bitcoin Cash, and to collaborate and coordinate with other teams and projects in the Bitcoin Cash ecosystem. Bitcoin ABC 0.18.0 grew out of this collaborative process. It implements network upgrade features developed with input and collaboration from many different groups. It is an important step in the process of careful and incremental technical progress to improve the utility of Bitcoin Cash and enable massive on-chain scaling. To become a solid base for application development and innovation, Bitcoin Cash needs to continuously improve and compete. At Bitcoin ABC, we are working diligently building a technical foundation to enable Bitcoin Cash to be the best money the world has ever seen.”

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Bitcoin Cash (BCH/USD) forecast and analysis on March 20, 2019

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Cryptocurrency Bitcoin Cash (BCH/USD) is trading at 158. Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Bitcoin Cash. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Bitcoin Cash (BCH/USD) forecast and analysis on March 20, 2019

As part of the Bitcoin Cash forecast, a test of 155 is expected. Where should we expect an attempt to continue the growth of BCH/USD and further development of the upward trend. The purpose of this movement is the area near the level of 173. The conservative area for buying of Bitcoin Cash is located near the lower border of the Bollinger Bands indicator strip at level 145.

Bitcoin Cash (BCH/USD) forecast and analysis on March 20, 2019

Cancellation of the option to continue the growth rate of Bitcoin Cash will be a breakdown of the lower border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and closing of quotations of the pair below the area of ​​135. This will indicate a change in the current trend in favor of a bearish for BCH/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Bitcoin Cash (BCH/USD) forecast and analysis on March 20, 2019 implies a test level of 155. Further growth is expected to continue to the area above the level of 173. The conservative area for buying Bitcoin Cash is located area of 145. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 135. In this case, we should expect a further fall.

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BTC/USD Crypto Signal

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Yesterday’s signals were not triggered as the low of the day was slightly higher than the support level I identified at $3,936.

Today’s BTC/USD Signals

Risk 0.75% per trade.

Trades may only be taken before and 5pm Tokyo time Wednesday.

Long Trades

  • Long entry at a bullish price action reversal on the H1 time frame following the next touch of $3,936, $3,876 or $3,804.
  • Put the stop loss 1 pip below the local swing low.
  • Move the stop loss to break even once the trade is $50 in profit by price.
  • Remove 50% of the position as profit when the trade is $50 in profit by price and leave the remainder of the position to run.

Short Trade

  • Short entry after a bearish price action reversal on the H1 time frame following the next touch of $4,374.
  • Put the stop loss 1 pip above the local swing high.
  • Move the stop loss to break even once the trade is $50 in profit by price.
  • Remove 50% of the position as profit when the trade is $50 in profit by price and leave the remainder of the position to run.

The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.

BTC/USD Analysis

I wrote yesterday that the picture is now generally more bullish, with no resistance to halt a further advance until $4,374. However, the price action of recent hours has suggested a topping out at about $4,000. It looked likely that the day’s pivotal level would be $3,936 – a strong bounce here and I would take a bullish bias.

This was a very good call as the low of the day was just slightly above that support. I say the picture now looks more bullish still, with the short-term price action telegraphing that higher prices are likely over the course of today.

Bitcoin

Regarding the USD, there is nothing of high importance due today.

 

source:fxstreet

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Bitcoin Cash [BCH] Price Analysis: Bears return as market correction precipitates decline

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Bitcoin Cash [BCH] was pulled down by the bears following two successive cycles of bullish movement. Following the uptrends between 15 -18 March, the bears have returned to keep the sixth largest cryptocurrency company.

At press time, the coin had declined against the US dollar by 3.10 percent, and was trading at $156.12. The market cap of the coin stood at $2.79 billion, behind EOS by $580 million.

LBank took the top spot in terms of global BCH trading volume, accounting for 8.32 percent of the total volume via the trading pair BCH/BTC. Other exchanges with significant BCH trading volumes were ZBG, Huobi Global, and P2PB2B.

1-hour

Source: Trading View

The one-hour BCH chart showed two prominent uptrends, with the first pulling the price up from $132.26 to $156.58, and the next from $147.84 to $163.64. Between the two uptrends, the coin bowed to market correction forces, and fell from $155.58 to $148.25.

Bitcoin Cash found immediate support at $146.48, which the coin had shot up above. The immediate resistance level stood at $163.76.

The Bollinger Bands indicated reduced volatility as the coin’s price had stabilized, while the Moving Average line pointed to a bearish phase for the coin.

The Chaikin Money Flow tool showed a decrease in the money inflow into BCH tokens, as the CMF line had dipped below 0.

The Awesome Oscillator indicated a decrease in short-term momentum. Further, with the concluding bars turning red, bearish movement was in the offing.

1-day

Source: Trading View

The one-day chart showed two notable trends, the first from $128.03 to $152.76, and the second from $150.85 to $131.02.

Bitcoin Cash found immediate support at $118.42, with the price at press time soaring above the support level. The immediate resistance level was formed at $160.67.

The Parabolic SAR pointed to a bullish run for the coin, as the dotted markers were below the coin’s trend line.

The MACD also indicated a return of the bulls as the Signal line was below the MACD line.

The Relative Strength Index pointed to a significant increase in investor interest as the RSI had risen from 46 to 70.04, before dropping to 65.93.

Conclusion

The Bitcoin Cash market was buoyed by two successive uptrends, that saw the coin break multiple resistance levels, and register a price of over $160 for the first time in over two months. In the short term, the momentum was down, money flow was negative and the volatility was low.

The long-term indicators gave bullish projections for the coin. However, with market correction imminent, the Bitcoin Cash bears were anticipated to resurface and surge.

Source. ambcrypto.

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