Battle of the bitcoins. BCH short before huge gains
I'm fascinated by the battle between Bitcoin and Bitcoin Cash. I believe that in the medium term Bitcoin will lose a lot of capital to Bitcoin Cash as it grows and wider benefits of speed and cheaper transactions are realised. I expect in the short term, the continued growth of Bitcoin to break 10k and potentially reach 12k by 10th December, will hamper the speed of growth for Bitcoin Cash. Based on this I expect to see Bitcoin Cash fall to support at 1380 to provide a good value buy opportunity prior to big gains. I'm aware this may be optimistic but I' holding out for a bargain.
In the short term BCH has hit a double top and is currently in a minor dip. If we don't fall past current support of 1550, I'll re-evaluate with a view to entering a trade near current levels. Thereafter we're looking for a break through the triangle and a 100% increase at least. Target sitting at
4K around 10th December.
In the short term BCH has hit a double top and is currently in a minor dip. If we don't fall past current support of 1550, I'll re-evaluate with a view to entering a trade near current levels. Thereafter we're looking for a break through the triangle and a 100% increase at least. Target sitting at
4K around 10th December.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.