Looking to catch a 35-40% $BCC / $BCH bounce

16 thg 11, 2017

I think BCC / BCH looks really good here. There are a number of technical indicators that are pointing towards short-term bottom, plus some psychological ones that also fit very well.

Technical:
1) Bottom of 2 day channel
2) Just touched down below .236 fib line which is often a bounce zone
3) Next fib level where sell target should be is 35-40% up. And if the coin goes below .1 it will dump. So risk reward ratio is 40/12 = 3.333

Psychological:
1) BTC is forming classic double top pattern short term. It should go back above in the next month or two but BTC and BCC are currently seen as inverses of eachother. They actually line up very well when superimposed
2) Roger Ver's 10k BTC buy wall on trex is now visible. So the orderbook will never look bearish to any day traders
3) Nobody is talking about how BCC is the next bitcoin anymore. Everyone is trashing it. Buy the panic, sell the greed.