Call me crazy, but I think the pumpers behind the move last weekend were using Fibonacci levels down to the T. I can see this happening again this upcoming weekend. Whether you like Bitcoin Cash or not does not mean you can't extract profits from it. I am swinging into this position heavy and taking on more risk for more reward. Lets see what happens.
Take profit will be anything around current all time highs. Move stop losses as if it keeps mooning to lock in profits.
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EDIT - I meant stop losses will be put in place around all time highs assuming we crush through the all time high and I will keep moving up my stop losses if this chart ends up playing out.
Take profit will be just shy of wave 3 tip to ensure liquidity**
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I plotted wave 2 on the wrong weekend . . .
Should be on the 17th not the 24th.
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Please always ALWAYS have stop losses put in place... BCH dipped below 1000 and that does not align with my analysis. Be careful everyone.
People think BCH is a pump and dump, but it's the biggest threat to Bitcoin Segwit, and if Segwit keep having trouble with high fees and transaction times, more money will go from Bitcoin segwit to Bitcoin cash, my 2 cents.
naturex
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@naturex, So there are big fundamentals behind these price swings. Also, who would you trust, Roger Ver the guy that saw Bitcoins potential and it's vision since day 1. Or the Core team that probably love their tech more than bitcoin's vision?
crypt0whale
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@naturex, Interestingly enough, the original whitepaper is titled "Bitcoin: A Peer-to-Peer Electronic Cash System". Bitcoin as it stands today is more of a store of value than it is a medium of exchange. The whitepaper title does in fact correlate better with Bitcoin Cash as a medium of exchange to be used as "cash". I will see it's going to be one hell of a flippening if it happens and Bitcoin Cash may knock Bitcoin useless if enough people jump ship.
naturex
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@wolfofblockchain, It's crazy right. I realised this just a week ago aswell. It's not without reason that some have called Bcash, for the real bitcoin. And it's why i think Bitcoin segwit stopped being bitcoin the moment it implented Segwit. Also I've heard that alot of exchanges like Coinbase will offer Bitcoin cash soon. It's gonna be some really interesting weeks/months!
bossl1fe
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@naturex, Quit it with your propaganda, if you dont like bitcoin cash then fork off and stfu.
naturex
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@bossl1fe, I'm talking in favor of bitcoin cash, not sure how you missed that