Putting my toes back into Bitcoin Cash....here is why:
I had sold my bitcoin cash at $621 as proofed in my earlier blog (https://steemit.com/bitcoin/@haejin/i-sold-my-bitcoin-cash-yay-free-money). But the current price and TA shows a potential for a profitable trade. A Trade not an Investment so shorter time length in holding and faster exit.
Look at the beautiful 5 waves down (red numbers) for the C wave! Five waves are always followed by a three wave abc correction. So, an upward correction is expected for profit.
The more I analyze cryptos, I realize they adhere to technical analysis beautifully! I've always said that's because the Central Banks can't meddle with it via the Plung Protection Team (PPT). It goes to show you, the cryptos are a truly free market reflective of human sentiment and not manipulation!
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish.
Thanks for sharing
I never managed to dump my initial issue of BCH so I am watching this with interest. What are your targets?
None yet since I define my targets as the price pattern develops. If a must, I would say to the top of the hairpin or it's origin point so about $280
It's declining at a decelerating rate... difficulty falling... i like the call
Decelerating for a turn!
200 definitely seems to be the bottom, a turn around is imminent. Very excited about this coin, I think eventually it will be the one that wins out in the Bitcoin war, especially with Segwit 2x splitting the coin yet again!
I did same Bought into BCH for good amount.
Before any buy, pre determine whether it's a trade or a hold investment. If a trade, plan on profit or loss taking accordingly. I use TA and will post my tactics almost in real time.
I will be holding until I see what develops after the full moon.
Looks like it has potential. I wonder if it will be a slow base build or not. We also have the sting mental barrier of $200... may rip of clearing that
The slow base possibility is evidenced by the very large rounding bottom potential. But that's a longer term, for my trade it's shorter term.
Got it!
Why don't you count that first pullback as wave 1?
The first pull back is my A wave down. I think that's what you referrd to?
Ah yes. I see. I use EW in a generic manner just paying to 5waves. Generally a very good long setup once 3 strong pushes down in price. One of my favorite setups on hourly for Emini futures or SPY options. Great post thanks
EOS looks ready, what's your opinion of the charts?
Oh boy do I have EOS coins! Check out my earlier blogs on EOS:
https://steemit.com/bitcoin/@haejin/eos-update-bullish
I also have EOS I want to buy more but i'm waiting. soon as I can take profits.