BCH: Dip accumulation.

By altlite

Updated

I see a dip to 1060ish, but be wary of new market sentiments.

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Volume looking good, making that 3rd High. Should see a dip below 30SMA soon.

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pumped! D'oh!

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We got that 26% dip, but we were a little off target. Looks like a possible buy here.

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Dipping more, close to target zone. No buy in for now. s3.amazonaws.com/tradingview/snapshots/a/A3EMBSV1.png

Looks like 1000 could still be a poor buy. BCH was happily supported within 400-560 without manipulation, so I think I'll stay clear for now.

BCH has been very interesting. I was happy trading 400-690s, but I feel like manipulation was definitely at play. From Nov 4th I'd experienced API trades maliciously spoofing the order book all the way up until the recent pump. I'm not saying it's not legit, I'm just skeptical. Everyone FOMO'd in, and I saw no clear indication as to why the market could have shifted it's perceptions of BCH so quickly. A week ago it was a "shitcoin".

It was clear that bots were rading between two accounts on both sides of the order book. I think it was a P&D, but I must stress that I'm still going to trade it. Quick SL and sell early and you should be OK.

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We made it. Unconventional, with an unexpected pump, but we made it. Wont be trading BCH from here.

s3.amazonaws.com/tradingview/snapshots/d/dnuSEMlG.png

altlite

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