SamHuynh
Long

BCH-BTC More pump is coming or done ?

BITFINEX:BCHBTC   None
RSI on 4hr has almost reached 90. I have played out some possible scenes for testing the green resistance line which is pretty important one.
if we can break above that green line, it will signal more uptrend with possible 3 targets planned out

Overall if you read all my posts, you must know that i' m very bullish on November and December for crypto.


THIS IS NOT FINANCIAL ADVISE.
Comment: so we reach the green resistance line. RSI for both bchusd and bchbtc at an extreme ATH level now. It is very reasonable to expect a pullback at this level whether it is big or shallow pullback before we start attempting to break out of the green resistance line
Comment:
Comment: I can only say " BCH is on FIRE" :)).
Comment: current price of BCH is dangerous to buy in :)
Comment: 3 possible pathes
Comment: i prefer the 3rd path . will be awesome if chart does it^__^
Comment: so BCH decides to choose path 1 while i was sleeping T___T.
Nevertheless, we are still at critical level on weekly chart. Either we will break it and retest for a chance to rebuy or we will do a better pullback. The previous pullback is too shallow in my opinion
Comment: possible quick Long trade here. Stop loss below 600$, target near 660$
Comment: critical support is approached soon
Comment:
Comment: expecting a bounce here. If not, the current rally will be over
Comment: nice, we bounce back up at the support. Now if we can break above the green line, we will start making new High. If not, this might just be a bear trap
Comment: we failed at downtrend resistance line again. Now there is high chance to continue on dropping more down to 500 zone which is the 61.8Fib level
Comment: I still strongly believe that we will have ONE more push before hardfork but it won't mean how low we can go. The best way to do right now is to wait for BCH to break it downtrend line to jump in again. Right now there is a rejection of selling on 1HR chart
Comment: look like we are heading to 493-500$ which should be the ideal place for bouncing up for last wave. However, if it is pierced through, high chance we will retrace 100%
Comment: so we have a bounce at 61.8fib around 500$. Now we need to see BCH to break out of the downtrend line. If not, it will just be another dead cat bounce and we will dive deeper. So patience is still needed before buying in again
Comment: chart is saying Selling is decreasing significantly.
Comment: the nearer we approach Nov 15th the more nervous LONGer will be :).
I m kind of disappointed that we don't have 1 more leg up . This shows weakness in the current market
Comment: because it doesn't seem like we will have one more leg up, I think the action will start after the fork happens. The two factors will fight each other to prove that their coins are the best
Comment: basing on what happens to BCHSV and BCHABC's price right now. I think this is the most likely scene to happen after the hard fork. Before hardfork, BCHSV will keep rising to trick the people to buy in and support it . BCHABC will keep dropping. After hardfork, BCHSV will drop hard , then BCHABC will start rising back up because it is strongly supported by Roger Verge and Bitman.
Comment: finally the fucking BCH drama fork is over. It is the reason crashing market hard
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