sumastardon
Short

BCH/DOLLAR: BCHUSD 20% Short set-up when Bitcoin turns back up

BITFINEX:BCHUSD   None
BCH/DOLLAR BCHUSD Short Set-up
Some interesting action by this crypto pair. Take a look on the 15 minute chart at the continuation patterns over just the
last couple of days, just perfect, with great entry points. If you traded this since yesterday, so far so good. But when
Bitcoin bottoms it will obviously snap back, giving bears a
chance to hit it ...so this will be a good short to pair with Bitcoin BTCUSD on the buy side, when the turn comes...(see
Bitcoin comments).
Right now BCH is just making the beginnings of another continuation pattern as Bitcoin sticks around 6305-6220 on
downside, so this is not tradeable yet - but when Bitcoin finally wriggles free of the central parallel
and then breaks the last parallel on the upside, then will be the time to short BCH/Bitcoin and BCHUSD . The space down
to 1210 is full of whip right now and can easily break higher still if Bitcoin breaks lower still, as it's still quite likely to, so far,
by look of Bitcoin chart. But it doesn't have to, unfortunately.

So: If bitcoin breaks lower from 6000-5990 this will go higher
still. And conversely, if Bitcoin finds a bottom at 6220, as it has done so far, this will crash back to 976 at least with easiest
part of the trade being from 1200 down to 995 - a nice 20% short...worth watching this/setting alert for any break of
1210 , (confirmed by Bitcoin double bottoming at 6220 and turning back up) so you're ready...could be a good one.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out