Bitcoin Cash Investment Part 1 - Clear your vision and imagine beyond $2000 . TA Included.
Update on Sell strategy: Instead of selling all BCH now at a super price, sell 50% or 70% (In my case 30% only). Leave some BCH always for long term (months) because you don't want to miss on $5000 or 10k price in 6 months to a year or more. I believe this coin has strong fundamentals.
Looks like we have a breakthrough at $1530 amid a strong bullish trend all the way to $2000.
I will cover all these aspects in a series of articles with TA in each of them.
- Future Outlook (Part 1)
- Fundamentals (News)
- Charts (Behind Paywall)
This card will change everything, can't wait to get one
Something important has been bothering me for several days, A question!
1. Mind over Crypto
A question that I had a month ago and is now back again requiring all my energy to answer it correctly. Last time, I answered it half-heartedly (in hindsight). I keep looking for answers from others around me and they are now annoyed. But I will ask it here anyway.
Why are we (and me) not investing more FIAT (money) in Bitcoin Cash?
Just over 6 weeks back, I was buying BCH at $350 and $400+ and sold some at $500 and sold some at $600 and bought again. When the price was $699, I put a buy order for 1 BCH at $696 and went for a 15 min walk, when I came back it was $740 and I decided not to buy. Boy, did I miss the bigger picture!
When we used to ask questions about when to buy back in, RiversAndMountains used to say "Any 3 digit buy in BCH is fine because you may not see it again in those numbers".
This is how I try to give a perspective for a buy price of BCH
- Initially, we were worried about a few dollars. "can we buy at 410 when price is 416"
- Then we worried about 10-20 dollar difference, "can we buy at 600 when price is 630"
- Then we worried about 50 dollar difference, "can we buy at 850 or 900"
- Then we worried about 100 dollar difference, "can we buy at 1300 or 1400"
- Soon we may worry about 500/1000 dollar difference, "can we buy in 2k, 2.5k or 3k"
I leave you to answer these 3 important questions.
- What if you can go back in time to May 2nd 2017, how much bitcoin (it was $1500) will you buy?
- If Bitcoin cash is the major contender for bitcoin, won't its price reach (eventually) the same ATHs (All time high) of Bitcoin which is 2k, 3k, 4k, 5k, 10k, 15k ?
- If Ethereum, Litecoin, Ripple and others went up by 40x, where will BCH reach? (it is now 8x)
Well, you can't go back in time to catch Bitcoin. You are here with Bitcoin Cash, a major fork of Bitcoin and 3rd in Market cap. What is stopping you from buying more?
We will try to answer this question in the next article by using different strategies. Now let me try to prove the current bullish trend through charts. The next set of articles will have updates to these charts.
Oh BTW, some of these charts are the same ones in my previous article and still aligning beautifully with the price action adding credence to our TA analysis.
Behind the paywall
I will include the following charts and analysis behind the paywall. I'm very grateful for your contributions and they fuel my spirit to write more and provide value. However, do let me know if the paid content does not add value or helped your learning and I will be happy to refund (Tweet @imkeshav)
- I will add more details and visual cues to the above widget chart to make it easy
- I will add 2 different chart patterns using channels
- I will also include BCHBTC chart to give you a perspective
Disclaimer: Please do your due diligence before investing in cryptos. Trading is much more complicated than investing and my observations are more tailored for the latter with a mid to long term view. In the market you are right until you are wrong. Have a good strategy in place and protect your CAPITAL always.
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