BCH and BTC support areas indicated

BITFINEX:BCHUSD   Bitcoin Cash / Dollar
On the left chart is BCHUSD and shows a buy target area red circle and the blue trend line must hold for a bullish continuation (approximation) my trend line could be off a few degrees...

On the right chart shows BTCUSD and sorry guys I missed anticipating the third wave rally yesterday and I should have seen that coming as it's always three waves as we know right? So the red circle on the black trend line indicates a bullish continuation and must hold or there will be more downside action and it will steepen.

Have a great day in the coin markets!
Kommentar: BCH can have a decent rally here. Maybe +-612 range. But my thoughts are that we have one more wave to the downside.
Kommentar: Yes this could be a bullish reversal. Lets see what the low looks like and where it will find support. Sellers are coming in now.
Kommentar: yes this looks like a good reversal and we can look for the best entry here. Don't wait too long
Kommentar: We always must be prepared to change our outlook and not be so convicted of our opinions to miss out on a great rally. It's a game of percentage calls, no one can ever fully predict the moves and price action. We use the tools we have to make the best informed decision. I would rather leave money on the table and be in on a great rally than to stubbornly watch the rally from the sidelines while missing out...
Kommentar: notes if you click on the chart
Kommentar: I don't think the pricing will get too much better than 615
Kommentar: that was wrong... hope you guys are getting better pricing than I did.. I should always wait to see where it lands first before taking a position... classic newbie mistake...
Kommentar: looks like a landing has occurred. click on the chart for details

What would be a possible target, 680?
@sezcurra, i'm holding for 900 - 1000 but we will see how it looks moving forward. This was a very bullish breakout and did not reach my low target so there is a lot of strength here and potentially now BTC will pull back because it seems like at first they were running together and now they are alternating buyer interest... so if BTC pulls back as I expect it will fuel the BCH rally.
+2 Antworten
sezcurra graham.edwards84
@graham.edwards84, great analysis. Let's go for 1k then
Thanks, I purchased a lot of BCH between 570-610. Trying to get the lowest price is stressful. I'm trusting this will hold and we can see 750+ in the next few days
@imkeshav, we will see 900 - 1000 in my opinion minimum
imkeshav graham.edwards84
@graham.edwards84, wow. I hope to have steady fingers and not panic sell
@imkeshav, patience of a crocodile, courage of a chihuahua... lol
+1 Antworten
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