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I have my own profession and make money on that, I need no more readers, no followers, I need no feedback or likes.
Simply, believe or not, I thought to serve and help public a little with no financial interest. Just help. Period.
So, all my charts are self-explanatory they highlight targets, supports, resistances and the highest probability scenario I have in my mind. And, if my work is deleted for any reason by someone I won't lose hours of work of typing explanations.
Back to BTC: my indicators showed a distribution period started on 9-NOV. Distribution period is a kind of overthrow technique of experienced traders where prices are going up, but on several classic TA indicators you can see a divergence: you can use several indicators for that, even the most simple will help you to understand: try 8. For instance, that indicator showed a top on 5-NOV. It's not a rocket science to see from that point how price goes up and shows outflow indication. Of course, I use a different method for identifying divergences, it was a simple example if you want to learn the stuff.
So,from that point I was checking my indicators and found that prices are to touch the upper of thesecular but then a large correction to come. It was the highest probability scenario. The correction arrived and the usual MA50 was found as a consensus , then a bounce happened.
Now BTCUSD made an official swing low meaning a possible point to enter, however, mmy indicators still show that this asset is not cold enough to buy btc .
The story is pretty straightforward from this point: large traders will magnet greedy retails to buy their residual stakes, then they will release btc and it will target the concensus MA50 again at 5660s. Then, my best bet is to see BTC to throw a spike below the upper border of its recent trading box at 5060s. My last buy of BTC happened at BTC 1800s, and I feel, if setups are good at 5000s I will make a nibble when media will be loud about the end of BTC .
BCH in my view is just another coin, definitely not a replacement of BTC . What really disturbs me about BTC is the constant shaking of its technical fundamentals: hardforks, fears around replay and slow network. These are the real fundamentals can destroy this coin, so don't risk all of your money on BTC only. There are several, cool coins used not only as a cryptocurrency but carry a business model as well, these are like omisego and bitshares for instance.
Latter especially interesting, gave me a clear buy signal last Monday.
Be careful,try not to be greedy, try disconnect your emotions from trading. Enjoy the money you made sell when others smile, and buy a little when others cry.