BCH in a falling wedge , 1, 2, 3 and 4 hour RSI's seem ready to make a comeback. However, with SO much hype around this coin, RSI's aren't true indicators of future price movement.
For day trading, i would buy at 1000 if we dip back down.
Take profit around 1200 short term or HODL if there's another bull run.
As always, make sure TA tools are on your side, don't blindly buy in at those prices.
* Don't be an idiot like me, cash out money for each ~20% it grows.
Note: if we break first support @890, this coin's going all the way down to hell.
For investing, wait for a dip to 900- support levels or buy in at 1050 if risky and wait for the next pump.
Good luck!
トレード終了: 利益確定目標に到達
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Short term goal reached; Taking half of invested money out. Leaving half for the long term.
トレード終了: ストップロスに到達
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Doesn't seem like there is any sort of pump happening so far, bch market cap still low and 1,2,4 hour RSI's are falling. Bollinger bands and RSI hint at a possible downwards explosion, and with BCH so volatile, I can't predict whether or not it will happen, so for now I'm taking my profits and waiting out the storm.
@RealDaniil, yup, don't forget to take out your profits and invest in bitcoin/ethereum!
RonVLT
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Roger Ver and Co. will pump it one more time lmao. What do you think the Mining Difficulty adjustment upwards of around 250%, that will happen in a few hours, do to the price of BCH?
RonVLT
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@RonVLT, I reckon it's going to weed out a lot of small miners who bring the price down and therefore it will rocket again.
deniskov
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@RonVLT, I too am banking on that supposed whale pump, however with the market cap so low it doesn't seem confirmed yet.
I don't think the mining difficulty will have much of an impact, if it dumps it will be because of whale manipulation + trader fear, and if it pumps it's purely out of FOMO.
imkeshav
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Thanks this is helpful. Now that the world has got a taste of BCH, I believe it will not be killed..and what can't be killed will...
can you explain the strategy for " Don't be an idiot like me, cash out money for each ~20% it grows." I think of myself as investor.
deniskov
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@imkeshav, Yes what i mean is when you earn profits off bull runs or bear falls, especially in altcoins, make sure you're slowly taking money out of the coin and investing it into something more stable.
For example during this weeks bull run, i went all in when BCH was ~600 and started margin trading, constantly reinvesting my profits back into BCH.
This got me a 10x profit at the peak, but when it flash crashed i was left with only a 2x profit.
What i should have done is say if my profit grows 20%, i take out 10% and put it in Ethereum, for example.
For example i have $1000 invested in BCH and then the crazy bull run brings me 20% up.
Now that I'm at $1200, I should take out 10% - roughly $100 - into eth/btc/xrp/usd, and leave the remaining $1100 in BCH.
That way i get a lower peak profit but when it crashes - and bull runs like these always do - I'm still left with more than if i kept reinvesting into BCH.
A lot safer, and much more satisfying seeing the crash when you've already been gradually cashing out.
monguilhot
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Hi, I dont wanna be stupid like you! LOL... anyway, how do you take profits?
deniskov
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@monguilhot, Yes what i mean is when you earn profits off bull runs or bear falls, especially in altcoins, make sure you're slowly taking money out of the coin and investing it into something more stable.
For example during this weeks bull run, i went all in when BCH was ~600 and started margin trading, constantly reinvesting my profits back into BCH.
This got me a 10x profit at the peak, but when it flash crashed i was left with only a 2x profit.
What i should have done is say if my profit grows 20%, i take out 10% and put it in Ethereum, for example.
For example i have $1000 invested in BCH and then the crazy bull run brings me 20% up.
Now that I'm at $1200, I should take out 10% - roughly $100 - into eth/btc/xrp/usd, and leave the remaining $1100 in BCH.
That way i get a lower peak profit but when it crashes - and bull runs like these always do - I'm still left with more than if i kept reinvesting into BCH.
A lot safer, and much more satisfying seeing the crash when you've already been gradually cashing out.