BCH emergency update 20.12.17

in bch •  7 years ago  (edited)

BCH did it again, it doubled over night with a new all-time high @ 3684.

I did predict this already two motnhs ago... so I am not really shocked right now:

kJJpqKeC.png

I saw it coming yesterday, when I made this screenshot for a cup and handle pattern:

dZBlSJ93.png

This was the original prediction:

rmICcKGr.png

This is one for my archives again... Yeah, I know, sometimes it just looks like magic...

image (5).png
If you think this to be useful information:
DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk.gif
image (5).png
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
image (5).png
DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions.
If you make any trades or investments after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.

Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...

Have a nice day :-)

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7 years ago by

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      ·  7 years ago 

    How high you think BCH can go? This coinbase listing will bring alot of mainstream fomo buys, we could see a continuing catalyst
    Thanks for sharing

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      ·  7 years ago (edited)

    I am going to sell 60% @ 4600, 20% @ 4800 and will hold the leftovers indefinitly, but I expect a big correction (>50%) afterwards.

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    [-]
      ·  7 years ago 

    What do you make of all the controversy over the fork and real BTC debate?
    Any reason for your percentage breakups for selling? Buying back after correction?
    I follow and understand EW theory but admit I'm lazy, think it will take too much of my time to be serious and dedicate, or don't have enough time to study right now. But following you and others I have done well, but know I could have done better. How long until you can be confident not to mess it up by being over confident?
    Any hints in long term BTC price for BCH compare?
    What is your long term in years forecast for BCH?
    I sold off my BCH, but held on until just recently. Sold for ETH so not too bad.

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    2 votes
    [-]
      ·  7 years ago (edited)
    1. I have no idea of any fundamentals. The only thing I know is that the fees of BCH are lower and transactions faster.
    2. There is a possibility for a wave 5 of bigger wave 1. If so, wave 2 can correct 99%... If it is extending in wave 5, it can go a lot higher than it is now. I am just cautious and my 12x profits in BCH are more than enough in my opinion. Of course I like to buy some back after a big correction. I also see a channel developing and BCH is already trading at the upper end. Chalice of death should ring a bell if you follow haejin.
    3. I see BCH going to 12k as well in the future, which is why I will never sell it all.

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    [-]
      ·  7 years ago 

    Had a 12x myself the last few days and it's like nothing I've experienced before.
    Hard to tell how BCH will break but I'm biased against BTC core group. So I fish opinions.
    Guess it's smart to hold both bitcoins for now. But not helping that fees are higher and transactions are slow for BTC.
    Thanks for the reply.

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      [-]
        ·  7 years ago (edited)

      I have changed my targets for long BCH, and I will likely change them again becasue it is looking very bullish right now.

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      [-]
        ·  7 years ago 

      It could go higher than BTC as people get fed up with slow $26 Tx and more merchants will start accepting BCH and more people will start loving the crazy gains. Also remember that for a brief time BCH was inversely correlated with BTC again. These inverse correlationships are popping up frequently and eventually it will become the norm.

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        [-]
          ·  7 years ago 

        Wow great updating of bitcoin...Thanks for sharing..I appreciate to your blog..Beat of luck..

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          [-]
            ·  7 years ago 

          Thanks for the update! So you think it still has room to go up a little more before correction 4?
          It seems to have already begun.
          Cheers :)

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            [-]
              ·  7 years ago 

            Nice pull! Gotta love it. I sold some at a higher price and am ready to ride the 5th wave. Good luck buddy! :)

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