BCH breakout - on its way to test ATH

As mentioned in my previous post, a pump is coming. Now this is validated by a breakout to the upside, and BCH is on its way to test its ATH.

Currently indicators on the 4H timeframe is showing overbought. If you haven't bought BCH, wait for the retrace for entry.

Any correction on the BTC may also be the catalyst of a BCH pump. This is a controversial coin, and may reach parity with BTC - regardless of whether you like it or not.

I am invested with a current target of 4.5k-5k in 3-4 months.

Note

Some people asked me where I think it will re-trace or where would I enter. I'm looking at a retrace to $1400, and a retest of this support (which will form a base for higher) - which could happen really quick. That is where I will enter if I haven't to add to my core position. However, that's only 6% as to where we are now. From an swing trade or even investment perspective, as I believe the target of at least $3000, with a downside to $1125 support (which gives you a ~3.5:1 risk and reward ratio), I may even be trigger happy at the current price ($1485). If it does drop to $1125, I will wait for reversal validation and take up more.

Note

This should not be taken as financial advice :). Trade what you're comfortable of losing. FYI: I was swing trading BTC, and that did not give me a higher return if I just held as an investment and ignore noise. Make your own strategy and action plan.

jasonlau924

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jasonlau924

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