Let's discuss Bitcoin Cash before hard fork on 15th of May!


Trading Ideas


Let's discuss Bitcoin Cash before hard fork on 15th of May!
Bitcoin Cash / Dollar (calculated by TradingView) BINANCE:BCCUSD

Bitcoin Cash is one of the coins in the last days/weeks which had a strong movement. Why? Because of the hard fork at the 15th of May. People are expecting a huge jump in the next 2/3 days. But I see the possibility of people selling or holding. Together with the uncertainity of how Bitcoin will behave the next two days (see my last Bitcoin chart to see what I think about what will happen), I have huge doubts about huge possible profits, here.

But there is big potential. I assumed it would have gone gone higher than the 1850 USD. But this didn't work. There was even an assumption of 0.25 BTC . But it slowed down hugely, so it didn't achieve 0.2 BTC . Considering last BTC hard forks, I think that a big movement here is unlikely. There is a strong resistance line here which I don't think it will break, easily. Risks are high that there will be a fake breakout causing in lot's of FOMO losses.

The movements I see right now are between a strong fibonacci level and the mentioned resistance line. All in all, a possible win of mere 10% in USD if this happens.

The maximal profit potentials are up to 2k level. ~1850 USD would make more sense, though. This would be huge!

Depending on how the chart really goes, I might change my assumptions and keep you updated. There is still plenty of time to make a breakout of the resistance line. Until then keep in mind that there will be a hard fork and there still is potential. So, don't forget about this coin till then.

Have luck!

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