Hello traders! I really made quite a lot of charts today, yet this one looks bearish to me! After not succeeding breaking 1560$ line in the first time ever! I do not think it will do it this time either. Stoch is extremely overbought and needs to calm down! After that the downtrend channel will reject the price and will fall around 800$. Great short opportunity for making 45%.
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After couple of days of testing and not braking i am still bearish on it! Note: After some Ta after that, u need to get a first trade only to 1200$ and if it breaks that support and closes bellow on 4h chart. u should do another short to 800$!!
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As we can see, the trade made it in our favor! Similar trade was on Btc if u saw that! First target 1200$ incoming!
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It is trying to break 1200$ mark on both 4h and daily! we will see how it will go at the end!
@qdoc, This could happen! that is why i would put SL on -5%. But even in this chart BCH/ETH is having less and less performance on a pump which will ruin my TA but it will not have as big of a price as it had before!
Doc-al-Citadel
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@ANDRE.jagodic, no probs bro good to talk. i think you're ta probably right. i am expecting a huge pump against the trend basically. But who knows. Am all in bch at the mo because i am hoping it will make me ETH. Obviously we have to wait and see!!! TRADE AT YOUR OWN RISK PEOPLE ;-)
Doc-al-Citadel
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@ANDRE.jagodic, and yes you are right i should have converted my bch to ether at the first pump. Only question is how hard this pump into bch will be if it comes!!!