mcgough_max
Long

Bitcoin Cash short/long term play

BITFINEX:BCHUSD   None
It looks like we are getting ready for the next leg up. We are forming a price wedge and preparing for another move. Bitcoin Cash has been in sync with BTC the past 48 hrs . As long as BTC continues to climb towards 8,000 BCH will hit 700+ . We will meet resistance at 650 but the market moves fast. On the down side... 600 mark has acted as strong support but a serious break in BTC could send BCH down to the low 500s. The waters are frothy. Sleep with one eye open ; )

Going into the Segwit2x BCH acts as a strong hedge. There is a lot of concerns with BTC and the "team" behind the fork. If any serious issues do occur, BCH might just be the saving grace. The BCH fork was created before segwit and is immune to any potential attacks or calamities associated with it. There is a significant amount of financial and miner support for BCH. Lets not forget Roger V help create and pioneer Bitcoin as we know it today. He invested his early fortune in many of the startups that make up the bitcoin ecosystem as we know it . Roger V has been quite as of late but he's been busy. While we are focused on the fork, infrastructure for BCH is being put in place - BCH atm installations, debit cards created, and a tremendous amount adoption/awareness in Asia. I believe some exposure to BCH is warranted!
Comment: Looking to enter $610 BCH
Comment: Segwit2x has been cancelled. Entire trade Idea toast
Comment: Bullish confirmation $700. T1 $830 T1 900
Trade closed: target reached
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