ParabolicInvestor
Short

BCHUSD Parabola downside

BITFINEX:BCHUSD   None
This is an update to the BCH parabola I posted before. It continues to struggle and will likely see lower lows.
Comment: The reason why the resistance is curved, is because this had a parabolic move into it. It has the opposite on the way out. This was not an organic move, but a move driven by "finite" buying capacity. There is nothing left to take this higher, but those who see the 2800 previous get delusions we will do another wave to those levels again, they are the ones buying into this resistance and getting consistently whipsawed. It's very likely this goes sub-1000 and this BCH attack is a distant memory in the history of Bitcoin.
Comment: I say this as someone who predicted the cup and handle breakout around 600 and rode it for over 100% gain to 1400. I didn't catch the 2800, but that just made it even more unsustainable, as that was entirely FOMO and manipulation. I am not particularly anti-BCH, as I was riding it before. Now as the dust settles and we see what happened, I'm particularly disturbed by the behaviour of the backers of BCH.
Comment: We continue to see the resistance zone in effect as BTCUSD continues to work off the huge parabolic accumulation. This may be dead for quite some time.

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