Bitcoin and Altcoin Update 2018-02-12
Some significant moves this time.  The biggest change I want to alert everyone to is the move in BCH.  On Friday I said that the up move looks like a pump to me.  Today's chart further confirms this.  Now that doesn't mean this is a sell.  For starters, it still has room to grow on the indicator.  The technicals show a good probability of consolidation and moving higher.  We also have to remember that huge swings in the indicator like this can precede big moves.  It could move the indicator into a new range.  The overall crypto market looks poised to move up, and so BCH is still a great play here.  However, if things turn south BCH is in a position to get destroyed.

ETC is also making some moves because of an upcoming fork.  I think a lot of people already gave up on that trade saying that it already happened.  The indicator suggests that it could still have room to run.

The last one is Vertcoin.  I've been pretty down on Vertcoin for a while.  Its action in the indicator is very different, and suggests to me constant manipulation.  However, it had a very good run here since the lows.  Its story is similar to BCH.  It looks like a pump, but there's room to go.  So I'd say the probability favors following the pump.  I'm not going to play this one, but we'll definitely need to keep an eye on it.



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