BCH arrives at the end of its consolidation, we can see a small or a huge run : - If volumes are sufficient and BTC not moon we can see a huge run to 4300$ or 5000$ - If we don't have enough volumes to break the 3000$ resistance, it will continue to consolidate to prepare the next run (see BCH pattern below).
BCH has always the same pattern : - A huge run - A huge consolidation phase with a bottom = the top of the previous run
You can BUY at the bottom of the consolidation (between 2500-2700$) and use a stop loss in case of the BTC comes out (near the red support line). You can place a take profit on the first TARGET at 3000$ or HOLD for the next TARGET at 3700$ and 4300$ that will be reach soon.
This is just an idea, not a trading advice.
BCH : 1NagVyeeqSq3pitd21A1ZBmzaCFgGV14Nn Thanks for your comments ;)
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Enter to the buy zone
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A longest idea
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Break the dotted blue resistance line, we will probably don't see BCH in the BUY ZONE soon.
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The breakout confirmation to 3000$ is the 2800$ resistance line.
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Re-enter the buying zone
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Failed to use the brown support line, it will return the the red and test to break the orange and the doted blue to breakout.
good chart, but LOL at profit taking in the 4k. Sell 4k only if you hate wealth
Herklos
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@mobitz, Hi if you read the description of the idea i wrote : "take profit at 3000$" or "hold to 3700$ or 4000$" on the next run soon. So please read the description before comment.
If you want an explanation of this long take profit please see this idea :
Bought in at 24xx 8 hrs ago, and I'm already at 10% ROI.... see y'all in the 3000's