Hi everyone, New to this, this is something I came up with from looking at the charts. Good possibility I could be way off. But I think I see a couple things forming here. Time will tell. Pink line is the rough trend line I think this coin could follow. ultimately having a large break out at the top blue line. This coin seems to be tracking pretty close to Bitcoin cash 14.10% as well. Let me know if i'm way off or if anyone agrees with me.
If the ascending triangle forms over the long term as i'm trying to indicate with the blue lines I think there is a strong probability. I am far from being an expert and this idea could go completely sideways.
Doc-al-Citadel
⋅
Yep agreed broadly
It's been forming a cup and handle for some time I believe
And yes its been in syn with bch thus far
Plus there was good volume earlier on
BigRed300
⋅
@qdoc, Thanks for the reply , I realized after i figured out how to publish this that I could have been more descriptive and clear and left lots of what I'm thinking about out. Ill try to explain a little better here in this comment.
If you take the bottom/start of the ascending triangle approx 130 US and what I think is the top/resistance in the long term pattern which is approximately 420 I think The 710US range is within target.
There will obviously be lots of shorter trades within that pattern, ups/downs but that's what I see forming over the long term if the pattern holds up.
The purple and yellow channels was what i was following last night to determine my position entry.
Doc-al-Citadel
⋅
@BigRed300, yeah, i'm fa rather than ta so your chart is fine for me. But on the bigger picture it's a cup and handle. If it doesn't sky rocket in the next two weeks i'll be a little surprised. But in markets who knows ;-) Do your due diligence guys...
@qdoc, so irrespective of what happens on the charts short-medium term I like this coin medium-longterm. I believe a bitcoin battle is coming and of the three bitcoins btg clearly has the most growth potential. But do your own research guys and your won due diligence; I never give trading or investment advice ;-)
BigRed300
⋅
@qdoc, yep my thoughts too. Need to watch the charts and adjust the plan as it plays out and roll with the punches . always have a plan in place so you dont take a huge hit.