Crypto Breakout Alert 🚨 - Fibonacci Market Watch - Fibonacci Technical Analysis

Analysis Method: Fibonacci & Wave Theory

This Analysis will be Updated.

Updated: 10/30/20

“A picture is worth a thousand words” is an English language adage meaning that complex and sometimes multiple ideas can be conveyed by a single still image, which conveys its meaning or essence more effectively than a mere verbal description. Seeing something is better for learning than having it described.

The original form: “A thousand words leave not the same deep impression as does a single deed.”

Credit: Wiki

BSV Immediate Target: $281-$372

Time-frame: 1 Week (Oct. 25)

BSV – 3 Hour Wave Sequences – Minor Wave 3

BSV vs. Crypto Market (TOTAL) – Note Divergence

BSV (Bars) – BSVBTC (Blue)- BCHABCBTC (Orange) – Note: BCHABCBTC made new All-Time lows in September

Crypto Markets will begin to move substantially higher between now and early 2021. (Jan-March)

The world is on the cusp of a technological revolution. Blockchain technology will be implemented in almost all business sectors. Blockchains will provide empowerment, accountability, and transparency.

HathorMM – (Sky Goddess) – New BSV Pool Dominates Hash (Credit: Coin.Dance)

Source: https://hathor.network/about-us/

TOTAL (Crypto Market) – All-Time Wave Sequence & Near-Term Target

All-Time Transactions: BSV (Yellow), BTC (Blue), BCHABC (Red) Source: bitinfocharts.com

Current Transactions

BTC: 338.9K per day

BSV: 703.3K per day

BCH: 22.4K per day

Breakout Imminent. 🚨

After, the BSV one hour wave sequence. The following price-action was a FLAT (3/3/5) correction sequence (ABC). Correction sequence complete. Now, looking for a Minor Wave 3.

Minor Wave 3 Target: $216-$198

SP500 – Price-action couldn’t break the ‘Ending Diagonal’ (CAUTION)

Crypto Market vs. SP500 – Note Resistance Broke

SP500 – WARNING ⚠️ – KEY LEVEL 3238.50

How does Merged Mining work?

Every merged mining implementation has an auxiliary chain and a more established parent chain. To work together, both chains must share the same hashing algorithm. We’re going to examine one of the most popular merged mining pairs, Namecoin and Bitcoin, to explain the process.

In this pair, Bitcoin is the parent chain while Namecoin is the auxiliary chain piggybacking off Bitcoin’s network. Both cryptocurrencies use the SHA-256 hashing algorithm for mining.

Implementation

Parent chain developers don’t need to perform any additional work to implement merged mining. Therefore, the Bitcoin network doesn’t even need to know that Namecoin is mining along with it.

Auxiliary chains, however, need some added development to integrate merged mining. Continuing our example, Namecoin developers updated the blockchain to accept proof of Bitcoin mining as valid on the Namecoin blockchain as well.

Merged Mining Process

Merged mining requires no additional computing power for the miners. As a miner, you mine Namecoin and Bitcoin just as efficiently as you would when mining only Bitcoin. You (or your mining pool) just need to perform the additional set-up to support it.

Source: https://coincentral.com/what-is-merged-mining/