imkeshav

$BCH - Bulls should get their turn soon - (50-70%) bounce

KRAKEN:BCHUSD   Bitcoin Cash / U.S. Dollar
Similar to my recent posts on $ETC, $ETH, I see BCH on the last leg of this 6 month downtrend in the form of 5th wave of a leading diagonal . Expecting a drop to $160-$170 and then an easy 50-70% rally for the next few weeks (2 months?)

However, leading diagonal signals the beginning a new bigger downtrend and I expect the price to eventually drop below $100 after the bounce. This is also in alignment of my macro charts on $ETC, $ETH (see linked charts), the assumption that early 2019 rally was a bull trap as appears to be in 3 waves (green ABC )

If this assumption is correct, the 50% bounce itself will be in 3-waves ( ABC )

A more bullish version is that we just finishing a red ABC correction and we are in the last leg of the C wave, so the bounce could take out the highs or reach to the top. Confirmation is break above $300

In both cases, I expect a bounce

Confirmation for this idea is when we breakout of the diagonal. I believe ROI for longs is better in the next 1-2 months
Dec 30
Comment: Here is an 8H close-up of this drop, the larger count is different, but still points a decent rally after the drop

Jan 14
Trade closed: target reached: We reached our target zone
@imkeshav so the confirmation about break above 300 took place. can you post an update on where you think this one stands now?
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Hahah target reached? Man are u scammer?

First u said short 190
Then sell at 260 because its wave 5 and bearish divergence

And now after price pumped u just post ya target reached!!!!

Shame on u

Stop it!!!!!
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@Weooo, You caught me!
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Wrong again
Please update ur idea and mention trade closed my idea was extremely wrong!!!!!!!
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@Weooo, I mentioned trade confirmation is after breaking from the diagonal, didn't we breakout from the diagonal? Also made an update at $194 on twitter that I expected a bounce and also closed my shorts, feel free to check it out

You are so bent on proving me wrong, you missed a 50% move ETC
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how come u think bch going below 100$ before the halving?

I can agree if you see that happening after the halving, however if you remember ltc this year did 4x till the halving day

what do you think about $BNB currently?

thanks
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@Weooo, Can you read the post again and let me know if it isn't clear?

I mentioned 50-70% rally in the next 2 months (halving is in 90 days) so you could say this is the halving pump. Drop to below $100 will be after that

For now, I'm looking at longs, will take a call again after the rally if we really dump below $100
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