BitcoinSV - The Flippening - Part 6 - DecentralizationBITFINEX:BSVUSD : Strong Buy
Analysis Method: Fibonacci & Wave Theory
Near-Term Target: $1,400
Time-Frame: 30 Days
Bitcoin SV is the original Bitcoin
It restores the original Bitcoin protocol, will keep it stable, and allow it to massively scale. Bitcoin SV will maintain the vision set out by Satoshi Nakamoto’s white paper in 2008: Bitcoin: A Peer-to-Peer Electronic Cash System.
Link to Whitepaper: bitcoinsv.io
Latest News:
The Bitcoin SV Scaling Test Network (STN) is often the place where records are made, and where Bitcoin SV (BSV) continues to prove how the original vision of Satoshi Nakamoto allows for unlimited scaling. On May 6, the STN was the place where two new world records were set.
We came upon the world records when Twitter account Global Bitcoin Watchdog noticed an STN block with over 9 million transactions . Shortly after, that record was smashed by another block, with over 13 million transactions .
nChain CTO Steve Shadders noted:
The STN is a tool for testing extreme limits of the Bitcoin network. Whilst this block wasn’t made under network conditions typical of the production network, it tested specific elements of extreme load scenarios. We are pleased to confirm that the Bitcoin software, in a globally deployed scenario, was able to handle this test with no noticeable service degradation.
STN Website: bitcoinscaling.io
Previous Analysis: BSV - The Flippening - Part 5
Link:
Pick-up form previous analysis...
High Wave Analysis:
- ABC Correction Sequence (Building a base)
- Correction Sequence was in 5 Waves (Strong Support)
Daily Chart:
-Primary Wave 1
-Added Fib-Time
-29 Days till Fib-Time Marker 5
Lower Wave Count:
-Primary Wave
Primary Wave 3 Trigger: $383
Primary Wave 3 Target Area: $300-$383
Will update.
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