BCH staged a remarkable turnaround off of the 875 support area which we kind of thought it might considering it has a long time association with this mark. It has now completed thee second wave of a three wave series and so should be safe (in my opinion) to long until 1575 area where I will take money off the table to see what the corrective looks like before a re entry.
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I'm heading out with my family so I am going to leave my trade in and watch it on my phone... so please take the steps you need to feel comfortable with stops and so on.
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my thoughts if you click on this chart. Thanks for all your comments everyone. I appreciate the feedback and contributions!
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Here's another perspective on the 60 minute chart. Notes if you click on the chart. Thanks.
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When you look at BTC and BCH there is no patently clear path and I just want everyone to understand that. Some times it will seem very clear to me like in the case of an impulse wave set etc. but here there is so much ambiguity in both patterns and it would not be bad to sideline cash here or reduce holdings until a clear bullish move becomes evident. There's no clear call and much depends on the move of BTC. Unless we can regain the 200 MA here on ever increasing chart time frames we will continue to move sideways and lower.
Nice call ... I think it will pop up soon ... wedged up on 4H ...
JCBCrypto
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thoughts
lawlord
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Hi wonder what you feel about the recent chart with price around 1150usd, are we looking to go further down? What kind of decline can you expect before bounce back? Thanks
imkeshav
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How about if I was holding for long term, can we see 2k+ in the next week or so?
graham.edwards84
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@imkeshav, that would be a tough call to make at this point and as you can see my calls today are not doing very well... lolol...
ixflo12341
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I looked at the spike around Aug 22nd,they just looked so similar... i agree with u, i will wait until a break out..
graham.edwards84
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@ixflo12341, yes and BTC has mustered a small rally here which is not helping matters...
ixflo12341
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@graham.edwards84, with cme news coming soon.. and negative corr3lation with btc, plus past history.. i am meaning towards a correction to 900.. but there has been rumors like slush gonna join bch on 24.. so who knows... I am out of both.. btw, when btc rises, alts rises except bch... so if bch wins, all others loses.. or maybe neo is the only exception consider the recent good rumors and similar relationship with neo just like bch with btc..