Hi Guys,
Tomorrow is xmas,
and I am going to be on my guard, this channel is looking quite tight and after the last couple of days and the fearfull reports about there is a real fear of a drop that would smash that last one we just saw.
I have marked on my drawing where you would want to have a few alarms setup in the event that this drops to hell.
What I am looking for here to put me at ease is a few hours today where BCH tracks sideways for a bit to open up the channel of support properly.
If it keeps moving up to fast and (tightens) or closes down the channel by tomorrow it will probably crash really hard.
Of coarse this all relates to what BTC is doing but the charts ATM are similar.
If this fall happens expect 1000 ish bch.
if it widens expect nice BCh returns of around 5k +
This is just my plan.
Keep an eye on the Grinch this year and dont let him steal your xmas cheer.
Tomorrow is xmas,
and I am going to be on my guard, this channel is looking quite tight and after the last couple of days and the fearfull reports about there is a real fear of a drop that would smash that last one we just saw.
I have marked on my drawing where you would want to have a few alarms setup in the event that this drops to hell.
What I am looking for here to put me at ease is a few hours today where BCH tracks sideways for a bit to open up the channel of support properly.
If it keeps moving up to fast and (tightens) or closes down the channel by tomorrow it will probably crash really hard.
Of coarse this all relates to what BTC is doing but the charts ATM are similar.
If this fall happens expect 1000 ish bch.
if it widens expect nice BCh returns of around 5k +
This is just my plan.
Keep an eye on the Grinch this year and dont let him steal your xmas cheer.
Trade active:
Looks like the channel opened up, next leg up should be 3800 if this holds,
then a drop to 3k, then upwards
Have a great xmas cause i will if this works out.
then a drop to 3k, then upwards
Have a great xmas cause i will if this works out.
Comment:
OK looking crashlike as per my first post, this was what i was fearfull of.