Lots of things going on with BCH. First and foremost - there is no macro story that screams to buy it.
However, $280 resistance was broken and now became support that also had a cup and handle formed under it. There is no moon in sight on this one other then right around $480ish. It will go there only if $275-280ish holds.
Just like all the EV stocks get bid up because they are cheap compared to
TSLA
, same thing with
BCHUSD
vs
BTCUSD
, its bought by MOMO FOMO crowd so use it to your advantage to get in and out. Everyone is super cautious buying it because wounds from 2018 bloodbath are still fresh but if you get in now you might get lucky. Either way - if you buy and it goes down you will regret it and if you don't buy and it goes up you will regret it.
Not financial advice as I am clueless just like all other gurus out there so do your own research and don't base your decision on some pajama pants trader in her basement drawing lines on charts she doesn't understand. In Soviet Russia, the BCH trades you.
PS look on 15 min chart there is a falling wedge, if we do not break out of it - forget it, going back down to $265 but we will and sputnik ride is on the horizon
However, $280 resistance was broken and now became support that also had a cup and handle formed under it. There is no moon in sight on this one other then right around $480ish. It will go there only if $275-280ish holds.
Just like all the EV stocks get bid up because they are cheap compared to
TSLA
, same thing with
BCHUSD
vs
BTCUSD
, its bought by MOMO FOMO crowd so use it to your advantage to get in and out. Everyone is super cautious buying it because wounds from 2018 bloodbath are still fresh but if you get in now you might get lucky. Either way - if you buy and it goes down you will regret it and if you don't buy and it goes up you will regret it. Not financial advice as I am clueless just like all other gurus out there so do your own research and don't base your decision on some pajama pants trader in her basement drawing lines on charts she doesn't understand. In Soviet Russia, the BCH trades you.
PS look on 15 min chart there is a falling wedge, if we do not break out of it - forget it, going back down to $265 but we will and sputnik ride is on the horizon
Trade active:
in at $279
Trade closed manually:
Close at $295.00 Bounce was weak and not impressive. Broader market sentiment is indecisive. No one ever went broke booking small gains and waiting for a better set up.
