highly visible, we've been consolidating for the last 3 weeks... Time for a great breakout.
The indicators are in my view telling us that something is coming:
- volumes reduced a lot and stabilized, just asking for a little kick to go back up massively again
- getting tighter
- Strong support (red line) (I don't look much at the order books, they don't mean much those days on 4h/1d).
OK so, easy, we'll be looking at this closely, no major update from my previous "idea posted" we're just adjusting the pop-out timing.
We wait for the break out and confirmation (it's OK to miss the first +10/+15%), then we buy and we take profits gradually.
You can set a stop loss at $2500 and adjust the SL upward following the increase.
By doing all the above you limit your risks and take profits safely.
Don't engage more than what you can lose, this is a risky market my friends!
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'The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.'
Just a brief update, trade is still on, did not get in at the "failed" breakout.
The support is super strong. In my opinion the risk/reward is still good.
Wait for the proper breakout AND confirmation as usual, but it is coming soon, very soon in my view.
- Volume is now going up in the right direction,
- RSI has hit its bottom and going up again
- The BCH/BTC is on the rise steadily since a few days.
Be ready for some good profits. I am I believe quite conservative on the potential upside, several other traders are quoting higher numbers for the upside. In any case this is a good entry point and profits will flow, even if you're a HODLER!