After BCH hit the bottom of its downtrend it is now at the resistance of its last peak at 397.70 and the psychological resistance of 400. This two make a strong resistance and at the moment it seems like BCH isn't ready yet to break it. So in my opinion a further way like "B" seems like the most realistic.
A: I don't think this way is possible anymore. (not enough bullish momentum) If it would break the 400 this time the resistance would become a strong support for further buy opportunities.
B: Most likely to occur. We now know where the bottom is, at around 300. Because the resistance at ~400 can't be broken yet the price will likely fall down to this bottom again. This will build a good buy opportunity. Then we'll see if it can brake the resistance of ~400 at the next try. If it breaks it like in B it will build a strong support and everytime from then, when it falls back to 400, it will be a good buy opportunity again.
C: If it goes like B but isn't able to break 400 again (you'll realize it like at this moment), then you should sell and wait until it falls back to 300 again - and then buy opportunity again.
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The resistance at 400 got broken sooner than I expected. After the breakout we got a good buy opportunity and now there is so much bullish power that even the resistance at 484 got broken easily. If it can break even the next resistance at 548 I see potential up to 700 here. If not, a small correction to 484 might be possible.
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Even correction to 400 seems realistic now. But it shouldn't go lower now anymore (strong support)
I’m guessing we should break the $400 residence soon, more and more people are realising BitcoinCash is better and will be better of when the next fork happens Nov 16
JanTrachslerCapital
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@SheriU, I agree with you. But at the moment it seems like we'll touch the bottom again before breaking 400 - like stated.
SheriU
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@officialTjan, I welcome dips full heartedly as it gives me more time to put in fiat :)
JanTrachslerCapital
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@SheriU, Exactly, this is the right way of thinking when it comes to dips ;)