Bch is in a big accumulation phase we will see within the next 2 weeks some up & downs before bch will take off so it may dip again a bit this is a buying opportunity i as example am holding rightnow 1000 bch + im not going to panic sell why should i ? im expecting 4x gains here the minimum target is 1400$ its even possible to go higher to 1700$ this is the mother of all bear traps i have ever seen.
The chart perfectly follows wyckoff market cycle if this accumulation is done sky is the limit. While others are panic selling the whales are stacking more and more BCH look how many new 2017 addresses have 5 digits of bch this is crazy we will witness the flippening bch is here to stay !
Do me a favour and DO NOT PANIC SELL if you do you will regret it with a high degree.
Expect the unexpected
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prepare for ST (secondary test)
This is a buying opportunity
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The longs are also outweighing the short positions if they really wanted to stopp out people they already would have done it
These longs are from big boys with deep pockets
expect the unexpected to happen
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297 could have been ST very interesting to watch
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we need to breach 345-350 to go higher -> 390-415
so keep an eye on it
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bearish cypher at 345
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ST is not out of the woods be careful guys if you can not afford 2-3 week weeks +-0 accumulation phase this isnt for you
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If this wasnt ST we will retest at least the low or make even a lower low 275-285$
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looks like a rising wedge to me now fits with the bearish cypher im expecting a full retrace + even a lower low to 275-285$ as ST
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This is also a possible scenario the daily as example looks much different than the 4hour chart so the last pump could have been AR so a revisit to 400-430 area isnt that unlikely
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to go to 400-415 bch need to breach 340-345 $ aand go beyond 350+ i see there alot of resistance
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we got a shark increase on the short positions on bch these may are from some richguy so price could fall easily sub 300 again as ST as i illustrated it never went there
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Remeber this chart guys? Expecting a full retrace on the whole move as it seems this one is the right
@Childrenofmen, I wouldn't laugh about this. Just imagine what would happen if the S2X fork damaged the original BTC chain because of bad replay protection... there are scenarios where $1400 can play out.
@RAKIM You are the man!. Now tell me what to do with my BCH coins! Because of you my average buy price is $540 and sold 20% at 1300+. Should I hodl the rest
Im trading now crypto since a while and i know nothing can sustain such a growth so we will see a correction which is healthy and needed to go in future higher .
What you do with your bch is your choice i dont like to give buy/sell advices because i also dont know the future and im scared to say something wrong which could turn bad for you
imkeshav
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@RAKIM, LOL..I understand. I think you scared yourself about how right you were. If possible, Can you tell us what you did with your holdings like sold 100% of your coins?
I day traded bch all the way up sold sometimes to early if i followed my chart 1:1 and sold exactly at 1400$ i would have made 40% more money , im satisfied with the end result.
Rightnow im completly out of bch im waiting for a good pullback
imkeshav
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@RAKIM, wow...thanks! I'm sure you are very eager to get in