Update: While drafting this post in a hurry before the breakout happened, it actually broke out, but the awesome thing is that I predicted it 2 hours before in a tweet with a brand new chart type (see linked post in TV). So please follow me on twitter (@imkeshav) for quick chart updates or ideas.
Sadly, I don't know how to add cool images here. Do checkout my yours.org post for more details and more chart types to confirm on the future price action. Thanks for your time and feedback!
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"The only way to lose money in crypto is if you SELL"
I learnt this lesson the hard way in Crypto. My first purchase of Bitcoin Cash was at $330, then at $420, $480, $510, $630, $1000, $1100, $1300, $1500 etc. This is because I keep selling to make profits or when there appears to be a major correction. This is not a big problem for me because I started investing so early (and I never sell core coins). My friend started at the same time in BCH, but never sells and keeps buying at major dips.
To each his own
Everyone has their own style and strategy that is relevant to their situation in life. Part 2 lists out some of these strategies and you can decide which category you fall in. Crypto investments are very risky and you will need to use multiple ideas/models to survive & thrive.
Major risk - Losing all or most of your initial investment
Major risk - Selling too early or too late
Major risk - NOT HODLing or Never Selling
(Expanded with examples in yours.org post)
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The green channel is the major pattern in this 1 Day chart. Observe how the price action tried to breakthrough and faced major resistance (Red arrow), but that large $100 green candle was a sign of major strength and after consolidation, the pennant formed.
Pennants in an uptrend usually breakout upwards like today, and boy it was quite a sight to see. It just cut through the channel resistance at $2030 like it was butter and zoomed past. In the last few hours it appears that this has become the new support line (Green arrow).
Macro view Elliott wave chart- 1 Day BCHUSD
This chart was added in our previous post and the price movement aligns very well with this zoomed out view. We appear to be headed for beyond 3.5k!
A correct Elliott wave count must observe three rules:
Wave 2 never retraces more than 100% of wave 1.
Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5.
Wave 4 does not overlap with the price territory of wave 1, except in the rare case of a diagonal triangle formation.
Disclaimer: Please do your due diligence before investing in cryptos. Trading is much more complicated than investing and my observations are more tailored for the latter with a mid to long term view. In the market you are right until you are wrong. Have a good strategy in place and protect your CAPITAL always.
Sadly, I don't know how to add cool images here. Do checkout my yours.org post for more details and more chart types to confirm on the future price action. Thanks for your time and feedback!
-------------------------------------
"The only way to lose money in crypto is if you SELL"
I learnt this lesson the hard way in Crypto. My first purchase of Bitcoin Cash was at $330, then at $420, $480, $510, $630, $1000, $1100, $1300, $1500 etc. This is because I keep selling to make profits or when there appears to be a major correction. This is not a big problem for me because I started investing so early (and I never sell core coins). My friend started at the same time in BCH, but never sells and keeps buying at major dips.
To each his own
Everyone has their own style and strategy that is relevant to their situation in life. Part 2 lists out some of these strategies and you can decide which category you fall in. Crypto investments are very risky and you will need to use multiple ideas/models to survive & thrive.
Major risk - Losing all or most of your initial investment
Major risk - Selling too early or too late
Major risk - NOT HODLing or Never Selling
(Expanded with examples in yours.org post)
----------------------------------------
The green channel is the major pattern in this 1 Day chart. Observe how the price action tried to breakthrough and faced major resistance (Red arrow), but that large $100 green candle was a sign of major strength and after consolidation, the pennant formed.
Pennants in an uptrend usually breakout upwards like today, and boy it was quite a sight to see. It just cut through the channel resistance at $2030 like it was butter and zoomed past. In the last few hours it appears that this has become the new support line (Green arrow).
Macro view Elliott wave chart- 1 Day BCHUSD
This chart was added in our previous post and the price movement aligns very well with this zoomed out view. We appear to be headed for beyond 3.5k!
A correct Elliott wave count must observe three rules:
Wave 2 never retraces more than 100% of wave 1.
Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5.
Wave 4 does not overlap with the price territory of wave 1, except in the rare case of a diagonal triangle formation.
Disclaimer: Please do your due diligence before investing in cryptos. Trading is much more complicated than investing and my observations are more tailored for the latter with a mid to long term view. In the market you are right until you are wrong. Have a good strategy in place and protect your CAPITAL always.
Kommentar:
We have another tiny breakout after I drew a small pennant. Will I be correct twice (in the short term)
Kommentar:
I've included another micro Elliott wave charts for the short term analysis in my yours.org article. We appear to be in the wave 5 of the sub wave 3. That post and previous posts have lot of info on Vision, strategy and risk mitigation. Do check it out and share your feedback
BCHBTC chart appears to be breaking out. Here is a quick view (more details in yours)
Thanks for all the views and feedback. Really appreciate it and helps me to make more posts. There is a reason I post in yours.org as well with more details,
- Most investors are in crypto market just to make money. To get real conviction they need to use it. Yours.org is a wonderful place for BCH usage. Also, they moved from Bitcoin being their mode of payment to BCH.
- I'm trying to prove a point that Bitcoin Cash has usage, instead of shilling on the internet forums or hating other coins or trolls. So I'm literally putting words as action behind my beliefs. My last posts have been accurate and judging by the response, lot of people benefitted as well.
I did not enter crypto just to make money, that is just an added benefit. I just want to be part of this revolution and believe that Bitcoin Cash will lead the way (I have no problem if you disagree, but request you to prove with usage rather than how much you made profits in a particular coin)
BCHBTC chart appears to be breaking out. Here is a quick view (more details in yours)
Thanks for all the views and feedback. Really appreciate it and helps me to make more posts. There is a reason I post in yours.org as well with more details,
- Most investors are in crypto market just to make money. To get real conviction they need to use it. Yours.org is a wonderful place for BCH usage. Also, they moved from Bitcoin being their mode of payment to BCH.
- I'm trying to prove a point that Bitcoin Cash has usage, instead of shilling on the internet forums or hating other coins or trolls. So I'm literally putting words as action behind my beliefs. My last posts have been accurate and judging by the response, lot of people benefitted as well.
I did not enter crypto just to make money, that is just an added benefit. I just want to be part of this revolution and believe that Bitcoin Cash will lead the way (I have no problem if you disagree, but request you to prove with usage rather than how much you made profits in a particular coin)
Kommentar:
We expected and got resistance the closer we got to $2500, because it was the end of the flagpole we measured earlier and also a major psychological round number, that will make traders/investors take profits.
Earlier BTC had a sudden correction, but Bitcoin Cash held the support line at $2000 very well. After the current consolidation, BCH needs to breakthrough the resistance To understand how we can apply Elliott waves to short term price action is available on yours.org post, clearly showing that we are in a small correction now.
The BCHBTC breakout appears to be confirmed and not sure where that will take us. Need to keep an eye
Earlier BTC had a sudden correction, but Bitcoin Cash held the support line at $2000 very well. After the current consolidation, BCH needs to breakthrough the resistance To understand how we can apply Elliott waves to short term price action is available on yours.org post, clearly showing that we are in a small correction now.
The BCHBTC breakout appears to be confirmed and not sure where that will take us. Need to keep an eye
Kommentar:
Looking closer at the 30 min chart, we can see the ABC correction is done and now we may have started a sub 1-5 impulse wave. Need to breakthrough $2430
Kommentar:
and we retraced just before the resistance line. I believe we will go through this quickly
Kommentar:
Amazing how the BCHBTC pair is breaking out of a long consolidation. This can take us anywhere!
Kommentar:
c'mon just a little more
Kommentar:
The breakout is real guys and I added a little trade here. We are likely to breakthrough $2500 barrier as well. This is a time to look at risks, strategies and fundamentals. More details in my post(s) on yours.org
Kommentar:
Unbelievable my BCHBTC chart was accurate and the price shot past it
Kommentar:
No words! I cant believe our charts have been accurate and BCH went beyond.
Now in the short term, looks like ABC or ABCDE correction. Hope you guys took some profits by now
Now in the short term, looks like ABC or ABCDE correction. Hope you guys took some profits by now
Kommentar:
OR we could be end of ABC and breaking out of this pennant. But wait for a proper breakout to enter again
Kommentar:
WooHoo! we are on the dot. Hope you guys got in for the next ride. Go USA (coinbase). Also Roger has an interview on CNBC today
Kommentar:
Got faith yet?
BCHBTC chart is awesome!
BCHBTC chart is awesome!
Kommentar:
Correcting is very health now. It went from $2300 to $3600 in 12 hours, corrected and went from $3200 to $4100 in 4 hours. Did we really think it will go to $5000 in the next few hours. Give it a rest! I expect it to fall to $3000-$2700
For instant updates, follow me on twitter. I mentioned this 7 hours back but crashed and slept till now (twitter.com/imkeshav...s/943772486755217408)
For instant updates, follow me on twitter. I mentioned this 7 hours back but crashed and slept till now (twitter.com/imkeshav...s/943772486755217408)
Kommentar:
Please be cautious. If 2800 support is not maintained, we can go all the way to $2000. I reduced my trading position to 30:70 (70% cash). I haven't touched my core coins, I see huge potential long term for BCH
Kommentar:
Appears that we have a small breakout, will it reach length of the pole? (green line)
Kommentar:
Here is an Idea, if we don't breakout from 3400, then we could be in ABCDE which is aligning with a falling wedge
Kommentar:
I added details and scenarios in the yours article (www.yours.org/conten...alysis--16b1780fea7d) check it out for the updated charts
I really would suggest that you read all my articles there to understand vision, strategy and risks of crypto. Don't go chasing stars or run away from valleys. Be informed. Thanks for all the appreciation. (I don't know if I should make another post here or keep updating this post. Let me know)
Note that for me personally
Core coins = Untouched
Trading coins = 25:75 (Meaning 75% cash)
I really would suggest that you read all my articles there to understand vision, strategy and risks of crypto. Don't go chasing stars or run away from valleys. Be informed. Thanks for all the appreciation. (I don't know if I should make another post here or keep updating this post. Let me know)
Note that for me personally
Core coins = Untouched
Trading coins = 25:75 (Meaning 75% cash)
Kommentar:
I hope someone acted on this advice. Stay strong!
Kommentar:
So, 2800 and then 2400 and then 1800 would be supports. from 1800 we can go to 5400
