All I can really say is.... WOW! There is so much market manipulation going on right now, it is unreal! Roger Ver and co has pumped BCH market cap above ETH and it is now sitting nicely in spot number 2 behind BTC.
30% of the volume used to pump up BCH came from Korean markets. Literally, in a matter of hours the price rose from $1300 to $2200. I have been following crypto for a while now and have not seen a pivot like this before. There is a lot of FOMO going on and a lot of panic. However, I urge you all who are holding onto BTC to stay strong and to trust the logic that you used to establish your trades. We have been diverging farther and farther away from that trusty 1 week EMA that has remained uncrossed since BTC was valued at about $260. Currently, the 1 week EMA holds support at the $3400 level. We are still a pretty far ways away from crossing that. By looking at the chart below, you will also see that there is support at the $5700, $5200 and $4100 levels. For those of you who took advantage of the nice $7000 + levels, it is possible that holding off a little longer to reestablish your long position could reap rewards.
For those of you who are HODLING, verify you have your stop loss limits set and ride it out.
I hope that you will find this post useful and keep you from making decisions based solely on FOMO. The $5700 support is holding nicely. As I write this, there was a nice bounce back into the $5800 level.
As far as BCH is concerned, there has been an extremely nice push, but it is hard to tell what it will be doing in the near future as most trading on the coin seems to be based on FOMO and whale manipulation. I would advise caution if trying to jump on the train. It is better to sit one out than to buy at the top.