I am also not a swing trader or a day trader on this coin, I am a LOOOOOONG term investor ready for a bumpy ride with an end goal about 10 years down the line in and around 80-120k/coin.
Glad to see that many of you out there, while I have been reading charts and others analysis, have come to learn that BCH is indeed the real bitcoin , and all this FUD out there has really confused the masses. So, now we have Bitcoin , Bitcoin Cash , Bitcoin Gold , Segwit2X and more likely to come as they continue to mess with the chain.
Ok, lets get back to the technicals for a moment.. We have some solid , and spot on bounces off the .50 FIB.. All good news! I strongly believe that we will never see the 550 mark again on this coin, and that is a bold statement and ready to be proven wrong because of the following:
- BTC should see a major correction soon, which will likely bring everything down with it
- Grayscale investments has made the worst decision in the history of bad decisions to unload $57 million worth of BCH over the next 90 days- so lets assume about 500k per day. Hope to buy some dips as a result!
- Coinbase will be releasing a LOT of BCH in January to all their customers who never received it after the fork, I think we can expect 65% of them to sell off as they will see it as free money and not for what it is.
Get ready for a bumpy ride, but if you're long, don't get shaken out, there is a LOT of uncertainty at the moment, and we can attribute a lot of it to the Segwit2x camp. Thanks guys!
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Ok for all of you who are unaware of what just happened - the hardfork on BTC was called off!
Does that mean we remain bullish on BCH, as far as I am concerned, YES! Why? Well, this is proof of indecision in the BTC community, they can't be trusted, and this shows that BCH is really the only stable coin right now, especially now that ETH has proven dangerous as well!
Let me know your thoughts below!