Good chane to go short on BCH again, It has made a fast retace (wich is normally in a correction). Stop at 1165.
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It almost broke out on the upside, but it got sold immediately. If it gets above the 1050, than i should go to 1100 and 1170
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Second reason why i think it will drop some more :)
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And just now created, also the second reason
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I got stopped out at 1065, they could not hold the Bitcoin, for me thats the reason why BCH even went up to this level. It's still in a downtrend while making a lower high!
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I am short again 1095 with a stop at 1155
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If it drops unde 1040/1020 it will probably accalerate. It all depends on Bitcoin being able to push it higher
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This will go to 1210/1230 Iam out at, again a loosing trade.
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If it cant even reach the 1200 it's a sign of weakness again and a lower high, if it drops below 1100 i expect going lower again. I will probably short it if it drops below 1100. Currently i am flat
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I am long at 1190, BTC seems to be losing
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showing strengt now with higher lows, it should break out aboven 1220, if Bitcoin drops below 7600 and later on 7500 than the higher prices will come sooner than i thought
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I am out at 1255
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I will jump in again above 1285
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I am long at 1265
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Next target is 1390/1420 if it stays above 1240,
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Unless volume will increase and spikes through this, it will most likely drop to 1280 again or lower, so i will sell if it drops below 1300
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This is exactley what i meant, but we are not there yet it has to spike untill the target of 1390/1420
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i am out at 1344
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Back in at 1295
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I have added at 1242, stop at 1180
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I will sell below 1265
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not looking good,i have shorted it
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Adding short at 1230
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Short stop at 1275, its all to risky, have to keep the losses small
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Around 1200 i will buy again. With a stop at 1120 and a target around 1500
Its seems to be winning, it stayed well above the 1120, Bitcoin seems to be loosing the fight, so BCH will probably win this one and go higher. I will go long above 1200/1220
wokem
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Sold out 2/3 of my position at 1198.25. Would love to buy it back in on a double bottom around 900ish. The rest I will hold for fun just to see if we get another pump n dump.
botje11
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@wokem,
Thats a very good trade!! taking profit is always good!!. I do think if it gets above 1220 it will go higher, beause Bitcoin seems to be loosing buying power
wokem
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@botje11, WOW! ALL TARGETS ACHIEVED. Back to cash. And it's still ripping higher! I think I'm not going to touch this one again. Like a twig on a mighty river. Thanks for all your analysis and targets! I was kinda wigging last night. Even though I've been through much worth on other assets this was one of my first toe dips into the wild world of crazy cryptos. Definitely need to get my target buy prices a wee bit better. But I'm still happy with the results given I am new around these parts. Definitely love it though!
botje11
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@wokem,
Your welcome and nicely done! Always good to make a profit. With this volatility its always scary. You should really be aware if your new to these markets. They can be very profitable but it can also easily turn around in a big loss. Well done this time
wokem
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Only 45 away from stop. You still aren’t convinced we are getting another weekend pump eh?
botje11
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@wokem,
Hahaha, seriously anything is possible. But what i have learned in my almost 20 years experience, is that you should never hope in trading. The charts are telling something, and i try to be objective as possible. I read, hear and listen about whats happening (fundamentels) b ut sometimes you can get influenced in negavtive manner. Ofcourse because of this i will mis out on a some great chances, but i do this for the long run. Just traying to make more positive points than negative, also means i have loosing trades, just as long the positive points are more :)
The_Crypto_Emperor
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what do you mean by (If it drops under 1040/1020 it will probably accelerate) accelerate it up or more down ??
botje11
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@Nasr_Al_Zaben,
Down, because its tbig support nog the 1050 (what was resistence yesterday). But only if the bitcoin gets above the 8000. Untill now its trying but is not able.