I had a plan to long $BCH when it broke $500 but I was overexposed in other trades and did not take it. Original plan was to take half profit at $750, which is where we are now, and the other half, god willing, at $1,300ish.
My other positions have had targets hit ($ALGO) or stops hit ($SNX, $OMG) so capital is freed up. I am planning on entering on a dip or break and retest of $750.
If you look at my ideas you will notice a pattern. Drop, long accumulation, breakout, retest, off to the races (hypothetically.) If I wold have been monitoring $BCH at the time I probably would have entered when it broke out of that multimonth range around $365. I just wasn't watching $BCH closely at the time.
My other positions have had targets hit ($ALGO) or stops hit ($SNX, $OMG) so capital is freed up. I am planning on entering on a dip or break and retest of $750.
If you look at my ideas you will notice a pattern. Drop, long accumulation, breakout, retest, off to the races (hypothetically.) If I wold have been monitoring $BCH at the time I probably would have entered when it broke out of that multimonth range around $365. I just wasn't watching $BCH closely at the time.
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ftx.us/ feel free to use this link if you want to get in on this idea
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Might get a second chance here. Markets are looking tough, could retest the original box, and if it does and bounces I'm taking a big position.
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Feb 22nd call was right, tough week in crypto. We might get our real second chance here.
Personally my macro crypto view is we stall out at $BTC around 50k, have one more retrace to a 42k with 36k being worst case, then that was your last chance to buy sub 40k for the rest of your life. I go into more detail into this on my twitter account (@ribsauce, follow me if you want to) Posted a thread that ended with my thoughts on Feb 28th and also retweeted a conversation with the King Stillman the same day.
Anyway, when this happens you want to be long $BTC first, and as soon as it cools fly into whatever alts you like, $BCH included.
If $BTC is not always the center of your portfolio, you're not gonna make it. Sorry anon
Personally my macro crypto view is we stall out at $BTC around 50k, have one more retrace to a 42k with 36k being worst case, then that was your last chance to buy sub 40k for the rest of your life. I go into more detail into this on my twitter account (@ribsauce, follow me if you want to) Posted a thread that ended with my thoughts on Feb 28th and also retweeted a conversation with the King Stillman the same day.
Anyway, when this happens you want to be long $BTC first, and as soon as it cools fly into whatever alts you like, $BCH included.
If $BTC is not always the center of your portfolio, you're not gonna make it. Sorry anon
Trade active:
Longed this, smaller size/risk than $LTC (I have an idea for it too). I will tell you why.
If you look at the historic charts and line them up with the overall markets, $BCH failed to pump at all during the 2019 pump where BTC hit 13.8k. $LTC pumped along with BTC then. It bothers me BCH did not.
I mean this chart is one of the cleanest charts to get a 3x you will find, but knowing it did not move at all in 2019 makes me hesitate a bit, so I sized down on it vs LTC
If you look at the historic charts and line them up with the overall markets, $BCH failed to pump at all during the 2019 pump where BTC hit 13.8k. $LTC pumped along with BTC then. It bothers me BCH did not.
I mean this chart is one of the cleanest charts to get a 3x you will find, but knowing it did not move at all in 2019 makes me hesitate a bit, so I sized down on it vs LTC
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So, like a donkey I messed up some other trades and shook myself out of this one for overall risk control, got out about 525ish, back in 550ish, so I left some on the table, but whatever. Back in, invalidation is closing back in that box, and I am not allowed to move up stops until we cross the first line, and shake myself out unless we reenter the box.
Trade closed manually:
Hmm, hit T1, entire crypto market took a bump, I was out at 540ish, if BTC starts looking good I will monitor this.
BCH performed pretty well until today, outperformed LTC actually, to my shock.
BCH performed pretty well until today, outperformed LTC actually, to my shock.
Trade closed manually:
Small update, if I post my brags I post my L's. This trade haunts me. I had a plan to get back in at $500, but I just straight up got busy and forgot, this darn thing hit $500, then rocketed to my moonshot target, leaving me in the dust on a 250% gain.
Even with this missed trade, Feb to May was my best run ever. I was long out of my mind the entire time and sold the EXACT top.
Exits
$EOS 12.80 (my most profitable trade of the year)
$ZEC $350 (you literally had a 45 minute window to sell here or higher)
$LTC $320
$BTC 59k.
If would have hit this $BCH trade it would be even better.
I have not taken a crypto trade since closing that Litecoin position May 12th.
Even with this missed trade, Feb to May was my best run ever. I was long out of my mind the entire time and sold the EXACT top.
Exits
$EOS 12.80 (my most profitable trade of the year)
$ZEC $350 (you literally had a 45 minute window to sell here or higher)
$LTC $320
$BTC 59k.
If would have hit this $BCH trade it would be even better.
I have not taken a crypto trade since closing that Litecoin position May 12th.