I didn't expect buying pressure to continue as long as it had and ultimately we stepped up didn't we? I'm still 100% on been over bought and the recorrection surely has to be soon...
If support doesn't hold here, I'll be waiting to stock up at 6k and I'll get back into the market I reckon.
Could be wrong. Just for future reference...
Thought id check up and yeah.. maybe?
Still looking for the bottom.. Have we found it finally??
With $BTCUSD finding it's bottom, I expect BCH to challenge a new BCHUSD ATH.
Dare say it should test the market cap for ripple....
Test of 0.164 then, if support is found, 0.18. I still won't doubt a low of 0.14 prior to breaking out to 0.2 but provided btcusd stays in it's new bullish channel, I think it's all hands on, deck bitcoin cash 2018...
Read it how you like. I'm all in Bitcoin Cash for the sake of transparency.
Right so If we find solid support at $7k, then we should launch pretty quickly to 7k9 followed by a hopefull push up to $8,700. *This is provided we continue moving past 6k9 with confidence....
IF, big IF, we have found the bottom and support holds up or 5k5 is tested and strongly rejected, we have a new target been one of a long, not short, nature. Absolutely must wait for confirmation of some simple ema crossovers and we're good to go.
My previous chart was on a stupid time frame. Here's a decent one tidied up a bit. As mentioned in the other, this is all a big if the support holds. See the related idea.
Is this the long awaited moment or will this recovery take longer.
Another blog in my journey to learning margin trading. Not financial advice obviously. Pure opinion. Been waiting forever to go retest that 6k region forever now. Considering the failure to break previous highs since 11k8, it's a direct path to 6k5 surely. If that fails, well, who knows but I would assume it would be supported and we're gonna make the long...