Bitcoin Cash (BCH) Insanly risky long trade I plan on taking.
Updated
The basics of the idea are explained on the chart. If price wicks to the stop loss cluster and moves back up, we know it is a very good long. If price drops below and stays there. could still be a buy, but not as safe. If scenario two occurs I probably won't take the trade.
So I expect another 6% drop from here into liquidity zone
1. Lots of people betting on Bitcoin Cash dying and all are in profit
2. Longs all in a loss
3. Big liquidation on Okex
4. Expected stop hunt to 0.063
We know that the money in the market currently flows from retail to big retail. Soon it will be institutions. Few months ago large funds were downloading crypto charts for analysis and stated they are looking into getting into trading crypto. Bet some are in already.
Also, Matt Hougan is creating an index for cryptocurrencies. Anyone heard of him? /s
Thanks for viewing!
So I expect another 6% drop from here into liquidity zone
1. Lots of people betting on Bitcoin Cash dying and all are in profit
2. Longs all in a loss
3. Big liquidation on Okex
4. Expected stop hunt to 0.063
We know that the money in the market currently flows from retail to big retail. Soon it will be institutions. Few months ago large funds were downloading crypto charts for analysis and stated they are looking into getting into trading crypto. Bet some are in already.
Also, Matt Hougan is creating an index for cryptocurrencies. Anyone heard of him? /s
Thanks for viewing!
Comment
I'm guessing most people who view this with a position is likely short BCH and won't like this.Comment
You can start to add to a long position here but do not use leverage. I am hoping for another 6% drop but even at this current price we should hold and bounce possibly 1-2%.Comment
The more long liquidations the better. We also want lots of shorters joining in. Each shorter much buy back into the market at some point and people who short down here are probably very susceptible to being liquidated.
Comment
Awesome.Trade closed: target reached
I got 8.5% off this trade.Comment
Don't be greedy and take some profit. You can buy back in later.Comment
Also, this is pretty funny. We will 100% get a short squeeze since these fools insist on shorting the bottom.
Trade closed: target reached
Here we go. The short squeeze I predicted.Get out now. Don't be long BCH anymore.
Comment
If anything its going to go down now.Comment
New idea posted.
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