Here is why I shorted BCH at USD 1450

Wyckoff is your friend. Search for Distribution.

Tele: @maexf
Discord: maex#8262
Tele: @mad_maex

You can find me here:
Coin Analyse: t.me/Coin_Analyse
New York Signals: discordapp.com/invite/YkpKuBw

Comment:

BCH starts a strong push, partly driven by btc increase. I was able to take profits at USD1128 and the remaining position got stopped out at USD1295.

Nevertheless the scenario might still be valid, as the recent rise could be seen as a retest. Especially resistance lines from the daily are still in play.

For now I am watching it for the outside, but if BTC turns bearish on the daily I am gonna short BCH first as there is not much support until 1080. If BTC keeps bullish daily momentum, play is from the table.

Trade closed: target reached:

It acutally did hit my TP2 and main target. Sadly, after getting stopped out.