Hey Guys,
As much as we hate posting this idea, we have to accept the fact as a trader/investor that financial decisions can't be taken with emotions. Keeping our emotions aside, here is a third eye view of the BCH chart where we are still in the bearish zone (sadly) and the possible bottom may not be there yet. The chart marks its' reason for being bearish along with the fact that the whole market cap is taking a hard beat. The volume is weak, rsi is not strong, overall market being negative, we will have to wait long for the reversal.
The possible reversal zones have been marked with the most reasonable explanation we could provide. Because we always look for confirmation before opening any positions, we don't recommend a short here as we are not sure of the reversal price i.e our target for shorting. However, traders can look to accumulate more at the given reversal levels and wait for the bull run we all are expecting.
There have been various positive news on BCH with the introduction of Cointext, Bitfinex allowing 0 confirmation transactions, Satoshi Vision conference, increase in retail adoption etc. This confirms that we are going to see a new AllTimeHigh anytime this year but like you all even we can't wait any longer. As published in our earlier ideas, we are still looking at possibly $6400 target anytime this year.
Do share your thoughts!
Happy Trading!
As much as we hate posting this idea, we have to accept the fact as a trader/investor that financial decisions can't be taken with emotions. Keeping our emotions aside, here is a third eye view of the BCH chart where we are still in the bearish zone (sadly) and the possible bottom may not be there yet. The chart marks its' reason for being bearish along with the fact that the whole market cap is taking a hard beat. The volume is weak, rsi is not strong, overall market being negative, we will have to wait long for the reversal.
The possible reversal zones have been marked with the most reasonable explanation we could provide. Because we always look for confirmation before opening any positions, we don't recommend a short here as we are not sure of the reversal price i.e our target for shorting. However, traders can look to accumulate more at the given reversal levels and wait for the bull run we all are expecting.
There have been various positive news on BCH with the introduction of Cointext, Bitfinex allowing 0 confirmation transactions, Satoshi Vision conference, increase in retail adoption etc. This confirms that we are going to see a new AllTimeHigh anytime this year but like you all even we can't wait any longer. As published in our earlier ideas, we are still looking at possibly $6400 target anytime this year.
Do share your thoughts!
Happy Trading!