KingMR

BCH June Bottom

Long
BITFINEX:BCHUSD   None
All indicators are oversold. Waiting for BTC to bottom before the next leg up. BCH typicaly moves before BTC so I'm expecting 6-4 to the be the day we bottom out around the $750 level before the next move up to low $2k.
Comment:
Started to dump right after my post was published. We might get there faster at this rate?
Comment: Here's my expectation for the next or so days.
Sideways, recovery, swing low bottom.
Comment: Nice bounce off of the $884 level as expected. Matching up nicely with the last bounce before bottom in April. Patience will pay off.
Comment: Things will get interesting over the next 24 hours if we start toying with the trendline. Still flat waiting.....
Comment: Double top on the trendline here. Won't be shocked if we cross it slightly and then break down. Patience
Comment: We could see one last bull trap? The waiting is the hardest part.
Comment: So this took longer than I had anticipated, but we finally wicked into my buy zone. I'm hoping for 1 more push down to the $775 to fill all my bids.
Comment: Since the bounce was off the all time low trend line going back to last fall, I will not be shocked if $790 was actually the bottom.
Trade active
Comment:
Added to my entry at 750 & 725.
I was right on the entry range but as usual the timing is ?
Comment: PT 1 852
PT 2 936
PT 3 1030
PT 4 1122
Comment: Further evidence that it's time for a bounce

Comments

It seems to be following your plan right now.
Reply
KingMR astrologychick
@astrologychick, Hey! Yes we just made a double (M) top at $1k so I'm thinking we slowly grind down to the February low.
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