Here we have 4h-BCH (Keltner 1.618, high ; Coppock; RSI; DMI).
Based on: - Coppock is in + more and more - RSI signals we are not overbought - DI+ is over DI- at DMI - and also onbalancevolume has crossedover its emas (not visible on this chart)
I think that: BCH might be supersoon ready for a ride back to 3000ish or more, probably cannot hold up there, but a pump is somewhat likely in my mind.
My tactics: buy in 2500-2600 zone, stop sell 2300 sharp, exit 2900ish,3300ish. (Unless Coppock/RSI/OBV indicate(s) otherwise.)
This is NOT a trading advise, just a guess of a non-pro. Always use stops, calculate risk! Criticism/comments welcome!
Trade active
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i am still active in this trade (yet the my buy zone calculation was somewhat wrong: 2400-2500 would have been a better call) -- GDAX might add BCH-BTC on 17th of Jan, which might be the day when BCH goes back to 3000ish, or some say when BCH drops. Really impossible to tell which way most people will go.
there are many catalysts lined up as well. I think run to 4500 wil be the first leg, then drop to 3000 then we go to 6000-8000 range.
GasHead
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I agree. As people become more satisfied BTC isn't going to plunge to the depths they will put back the money they took out of BCH following the Korean Exchange raids, and yesterday's upwards trajectory will continue with bells on.