Tripple bottom formation on 1hr chart.
4hr chart is looking to make a turn around soon.
If this price rise happens, look to the 1D chart for a near drop in price possibly breaking $300 resistance.
Influx of volume today will confirm or cancel out this forecast.
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Bitcoin and other cryptocurrencies are a very speculative investment and involves a high degree of risk. Investors must have the financial ability, sophistication/experience and willingness to bear the risks of an investment, and a potential total loss of their investment.
Information provided by King Midas is not intended to be, nor should it be construed or used as investment, tax or legal advice, a recommendation, or an offer to sell, or a solicitation of an offer to buy, an interest in cryptocurrency. An investment in cryptocurrency is not suitable for all investors.
4hr chart is looking to make a turn around soon.
If this price rise happens, look to the 1D chart for a near drop in price possibly breaking $300 resistance.
Influx of volume today will confirm or cancel out this forecast.
______________________________________________________
Bitcoin and other cryptocurrencies are a very speculative investment and involves a high degree of risk. Investors must have the financial ability, sophistication/experience and willingness to bear the risks of an investment, and a potential total loss of their investment.
Information provided by King Midas is not intended to be, nor should it be construed or used as investment, tax or legal advice, a recommendation, or an offer to sell, or a solicitation of an offer to buy, an interest in cryptocurrency. An investment in cryptocurrency is not suitable for all investors.
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I still believe if the bulls can hold $300 support level, $315-$320 is possible by wednesday before another sharp 5-10% pullback
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Special things are about to happen
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Patience is always key when trading, I should of waited out longer on the 4hr chart. However I'm still holding my position.
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BCHUSD Volume is has passed up BTCUSD Volume on Coinbase. Very optimistic for the next 3 days
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The daily chart proved to be too heavy. And we were pulled down 10% before another chance to the upside of $315 - $320 However we are in a perfect buying opportunity to accumulate. Therefore I'm buying up BCH for the next 3 days
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20% drop today. I'm holding my initial purchase and loaded up on more today. My target is $320 ish by Wednesday. After market correction it may go beyond the resistance of $320
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NOT Selling out of my position, further analysis indicates a correction above $300 may take 2-3 weeks
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Bad Long, but market recovered enough to break even