Casey22
Long

Bitcoin Cash Longterm Breakout Approach. But first...

BITSTAMP:BCHUSD   Bitcoin Cash / U.S. Dollar
Downside. First, we go through some downside. I see more than likely targeting $250. Alts in general do not hold up well with the .618. SO I think the .786 is a fair place to head. That will be in conjunction with the ascending triangle for a long term breakout to come. Anyways, anything above $550 at this point, and we will have some significant gains.

Good luck trading.
Comment: I mean. Looks like we are on target, what else can I say?

Comments

$1500 I will definitely wait
+1 Reply
Should it not be SHORTED if $250 likely?
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arnnye27 Popsigog
@Popsigog, I think short should be at 285-290$. Normaly this cicle should never go below Fib .618, wich is around 300$ . I've been drawing a few times EWT lines, and last 5th wave leads max Fib .618. Buy from 325-300$.
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Popsigog arnnye27
@arnnye27, Many thanks.
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Casey22 Popsigog
@Popsigog, in general, the volatility in crypto is so great that I do not typically do options. There are just huge wicks in an immature market. I personally have much more success in buying low and selling people my profit. Just my personal strategy. Very likely, from where we are now at $370, that we most likely drop significantly in the next coming days. But do we wick up to $420 to liquidate shorts before heading down? I can't tell that. Plus if we happen to go over $420 (my level of resistance) then I will be long and we can scrap this analysis. But to each his own. Best of luck trading.
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Popsigog Casey22
@Casey22, really appreciate your time and helpful response. I’m a newbie. And taken a couple of hits this month.
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Casey22 Popsigog
@Popsigog, did you short? Would have been a nice play ;)
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Popsigog Casey22
@Casey22, Yep, sold at $3,62 - but bought into other alts that I felt had more scope than BCH.
Thanks for asking. Happy - I read the bottom on a few of them, generally hitting between my Targets 3 & 4.
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Casey22 Popsigog
@Popsigog, How we feeling now?
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