BITCOIN CASH TREND LINE REACTIVATION
Coin Telegraph
GOOD AFTERNOON STEEMIT!
THANK GOD IT'S FRIDAY!
I'm still enjoying seeing my altcoins that I'd been accumulating over the last few months sitting pretty in green, but because I'm a sicko who loves the pain (or I like to keep a journal of quality hindsight setups to help spot them next time), I'm going to write about my old pal, Bitcoin Cash.
I can't remember if it was just a Twitter conversation I had, but I'm certainly eating my words about dumping my junk Bitcoin Cash right now...
Check out the Bitcoin Cash daily chart below:
BCH/USD Daily
As I mentioned above, I really wanted to post this chart just for the way that price reactivated that daily trend line. So often we see that trend line breakouts aren't terminal for markets and this is just another beautiful example of why you should be leaving the lines on your chart.
Here you can see that price broke out of the trend line before retesting it on the underside, before finally rallying back above and reactivating it by testing from the top again.
Add it to the journal but please don't talk about this stupid coin to me again...
Enjoy your weekend! :)
Peace.
Instagram: @forexbrokr
Website: www.forexbrokr.com
Don't beat yourself up about Bitcoin Cash. This one was a clear case of the funamentals over-riding the technicals. The abandonment of SegWit2X helps BCH immensely as it is now the only big-block on-chain scalability solution for Bitcoin. You can't read developments like that in any chart.
I feel you. I’m in the same boat. I sold 80 percent of my bitcoin cash after the fork. Some thing is better than nothing I guess
If I got Bitcoin Cash during the hard fork, I honestly would have sold. But since it was a "successful" hard fork when compared to Segwit, I think it's time to take it seriously. I don't know... I think there's something there for the future. I think it's going to be more widely accepted than Ethereum Classic.
Even with segwit 2x in bitcoin, I think bitcoincash are still more efficient with its 8m block size. Maybe that's why bitcoin cash jump up after no segwit confirmed in bitcon.
The price of Bitcoin Cash has doubled itself since it was around $300 one month back. It seems like Bitcoin Cash is on it's way to the highest mark. Now that Segwit2x hardfork has been canceled, it's price may take a leap
I got into crypto on Oct 3 2017 so I missed out on the BCH fork, since then it hasnt looked very healthy but I still would like to buy a couple. I think this industry is big enough for both BCH and BTC.
Im not saying they will be direct competitors but BCH can still make a person money on a long hold I think.
BCH is going crazy right now!
upvoted
may be this interests you
https://steemit.com/cryptocurrency/@allthereisislove/how-i-made-a-near-100-profit-on-dash-in-10-days
thank you for your time