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RE: BITCOIN CASH IS NOT BITCOIN. BITCOIN IS BITCOIN
hi, @forexbrokr, great info analysis. are you looking at a short term resistance to a longer term uptrend - or - a bit of a downtrend for a week or two?
In my mind I keep hearing someone humming the Dutch Tulip Bulb Blues but in my heart I feel like there is a lot of upside left, my taxi driver isn't telling me stories of how he sold his house to buy bitcoin yet.
oh wait, then there is this bit of news > http://www.independent.co.uk/news/world/europe/man-sells-everything-for-bitcoin-moves-family-to-campsite-a7994751.html
Hey mate, thank you for the great comment!
First of all, I don't day trade BCH/USD. But my general trading strategy sees me try to take trades depending on if price is above or below higher time frame support/resistance levels.
So in this case, while price is still capped by the resistance line that I have marked on the chart, I would only be shorting.
Haha I love this contrarian indicator for figuring out when the top is in. I asked my taxi driver about crypto on the weekend too and he had no idea. There's still plenty to run in crypto yet... just would rather allocate my funds to coins other than Bitcoin Cash.
Who needs risk management when crypto just goes up forever.... right?
Awesome response, you are someone after my own heart.