BCH trading within range & falling against BTC

History is repeating itself!

I think it was @imkeshav (not certain) who first suggested this weeks ago. I was in disagreement, but now it seems to become reality.

BCH is likely to trade sideways for January w/ at least one fake out & one spring (Wyckoff accumulation). Monthly EMA will provide some support, too.

This makes for a good range-trading. Particularly, if it crashes hard & touches $2k -> good opportunity to get in for mid-term gain, at least to $3k & if breakout -> $5k.


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הערה:

Indeed quite weak. I have a feeling it'll be pumped (lightly) before this week ends, but it probably won't touch 3000. Then it'll fall even deeper.

הערה:

touched the lower end of the range. perhaps a small rescue pump will take place within the next 24h

הערה:

seems like today is the pumping day. I don't think it'll go much high, but a fake out is possible.

הערה:

the crash is so hard I don't think any chart could make sense for some days.

הערה:

Since I linked to this in my BTG post, just another update:

I admire the BCH team's spirit, but the market doesn't view it much differently from BTC. Its ASIC addiction could also be a problem in the future.

Nevertheless, now may be a good time to start looking at it. Major pump could be just around the corner.

הערה:

Didn't expect BCH pumping so soon, but I guess b/c it was one of the hardest hit it'll recover to above $2200. Still not convinced it can go above 0.2 BTC, though.