It is a mistake to underestimate #BCH, most people did in last November convinced on the FUD that it will soon be a dead coin. I didn't. The chance to buy Bitcoin (BCH) below $400 had excellent Risk:Reward ratio
Now you have a chance to own Bitcoin (BCH) at $500+
We are back in the same place, I've been tweeting since September that BCH is on a sale after a 85% drop. There is much FUD flying around.
1) It is #4 in Market Cap
2) 80% coins are mined, only 4 million left. Just as scarce as BTC
3) BCH:BTC ratio is below 0.1
4) Bitmain (most profitable crypto company) owns a million coins.
5) Now has the ability to have ICOs on top of it
I've observed 3 whale accounts accumulate 250,000+ coins in that last 1-2 weeks (See my tweets)
Technical Analysis:
After the last year bull run ended at $4000+, we can easily make out 1-5 waves (green) are done, after which we usually have an ABC correction
A has 5 waves down (red)
B has 3 waves up (green)
C has 5 waves down (red)
Observe that ABC appears to be done (90% drop!!) with C ending just above $400. ABC will be followed by another 1-5 impulse waves and we appear to be in the beginning stages of one (Blue waves)
1st wave is done at $640+
2nd wave also appears to be done with its ABC ending just above $500 (it could go down also)
3rd wave target is at 1.618 Fib level ($867). I believe this could be the spike for the fork
4th wave appears to be the dump that usually happens after the fork
Note that $800 will be major resistance and where 200 MA is located.
All the best. Stay Safe. Use Stop Loss
My Oct 26 post
Now you have a chance to own Bitcoin (BCH) at $500+
We are back in the same place, I've been tweeting since September that BCH is on a sale after a 85% drop. There is much FUD flying around.
1) It is #4 in Market Cap
2) 80% coins are mined, only 4 million left. Just as scarce as BTC
3) BCH:BTC ratio is below 0.1
4) Bitmain (most profitable crypto company) owns a million coins.
5) Now has the ability to have ICOs on top of it
I've observed 3 whale accounts accumulate 250,000+ coins in that last 1-2 weeks (See my tweets)
Technical Analysis:
After the last year bull run ended at $4000+, we can easily make out 1-5 waves (green) are done, after which we usually have an ABC correction
A has 5 waves down (red)
B has 3 waves up (green)
C has 5 waves down (red)
Observe that ABC appears to be done (90% drop!!) with C ending just above $400. ABC will be followed by another 1-5 impulse waves and we appear to be in the beginning stages of one (Blue waves)
1st wave is done at $640+
2nd wave also appears to be done with its ABC ending just above $500 (it could go down also)
3rd wave target is at 1.618 Fib level ($867). I believe this could be the spike for the fork
4th wave appears to be the dump that usually happens after the fork
Note that $800 will be major resistance and where 200 MA is located.
All the best. Stay Safe. Use Stop Loss
My Oct 26 post
Comment:
The 100 Day EMA (purple) at $557 is offering very stiff resistance and price got rejected. Lets hope bulls can try and break through
