Sometimes you need to think big. In this case watching the bigger picture of BCH, because it was able to rise 400% in two weeks. How is that possible? It's sentiment...
People thought BCH is gonna be worthless... And now it is on its way up, to reach levels, that only bitcoin has seen before in the cryptosphere, because the sentiment has turned. If my count is correct, BCH will reach 3500$-4000$ by the end of 2018 and this is expected to be big wave 1.
This is the updated count:
I remember haejin posting a lot of pictures looking like this one in BCH . And most people without Elliott Wave knowledge called him crazy and stupid for his imaginary ideas. Not so imaginary after all.
This is NOT his or mine original forecast picture from months ago, but if you search his archive you will find it, because it is in the blockchain forever. I edited this one to make it look like the one I remember.
It will happen in other coins, too. Not all of them, but many. If you compare this with other coins you will find some also being ready for take off.
From an EW perspective, BCH is having one of the most promising charts right now.
Does this chart ring a bell when you think about STEEM? It should, because this is exactly what is going to happen in a few months from now.
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If you think this to be useful information:
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.
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.
If you make any trades 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.
Tell me what you think...
Have a nice day :-)
It sounds to me like a weather forecast, it might come true (in case of Steem and the other alt coins you mentioned) or it might not come true. Still not convinced so far that EWs are applicable in the crypto space.
I get that a lot and I understand your scepticism. Just watch some EW projections from me or haejin for a few months. Be very neutral, but open minded and I guarantee you will see it does indeed work.
It didn't even take me that long. Probably 2 weeks at best after I really got digging. EW and chart patterns are the single best predictors in the micro level. I think fundamentals are superior for long term buying and selling. For the mid term my short and limited experience is that TA and fundamentals are both very effective.
I see TA as a measurement of sentiment. But the world doesn't run on feelings. Only the moments depend on feelings. It's kind of like hook ups and long term relationships. In the long run everything comes down to fundamentals. But on the short term "Game/PUA" works better than being a better good productive worthwhile human being,
At least that's just my personal take so far. I only started trading Aug 1st 2017.
It's nice to see some positive sentiment regarding STEEM. I've seen a lot of people expressing doubts and fear lately about the long term viability of STEEM and steemit and whether this downtrend will ever end. It's pretty exciting to think about a rally like we're seeing in BCH happening with STEEM at some point.
I've got a bit of Bitcoin Cash tucked away for a long term hold but not as much as I'd like. I traded some of mine for other coins awhile back....ouch.
I traded some for other coins too ;-) mostly STEEM because it is still cheap.
You can never have enough of a promising coin.
It is hard to keep a balance of short term trading and investing. Long term hodl almost always beats trading.
It would be better to consistenty invest every month a certain amount, even if it is only 50-100$. I have started doing this two months ago. Not trading much, just hodl. Planning to reenter BCH after green wave 4.
Take care and thanks for stopping by.
Yes long term holds and consistent investing is usually more profitable in the long run. Sometimes I just have to scratch the itch and do some short term trading though. And at times I end up regretting it when I look back and see that just leaving my investment alone would have been more profitable and less time consuming.
Bitcoin Cash goin off on its own tangent.. im new to CC and i haven't heard much big talk about it but whew 😥 that chart looks like BCH is the ONLY place to be rn! Thanks for the updates and insight.
It's being completely manipulated via Tethers, so please be careful:
https://steemit.com/bcash/@tolkatore/please-be-careful-participating-in-the-bcash-pump-it-s-all-being-manipulated-via-tethers
Thanks for the warning, but it does not matter where the money comes from. The sentiment has turned and there is only one way now.
How much do you expect bch to go up?
2400$ in Q1 2018
how about $2400 today lol well back to $1450 now
watch my update from a few minutes ago :D
Many are saying its a short term pump and dump.
Mining power has deserted BTC for BCH, but will return in a few hours when the change to hashing rate occurs.
https://fork.lol/pow/hashrate
although there are also rumours of Roger Ver dumping 25k BTC, I assume to put into BCH, which could mean your prediction of BCH dethroning BTC comes true
its hard to call just now lol
Would you touch it here/where? I need to await a correction as I missed this one.
I need to sit on my fingers too, but I will wait it out for green wave 4 to arrive. I don't like buying close to a expected midterm top. But of course I will hodl my small BCH postion indefinitely.
There recently was a triangle correction a few hours ago. Did you get in?
img credz: pixabay.com
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