End of bear trend for BCH and Altcoins?
Wanted to publish it yesterday, but was to scared to call a bottom on bcash. I don't want to trade this scam, but if others want they are free to do so. I just like what I see in this chart and I am putting my emotions aside to post this.
My RSI 21 OHLC made one of my best and most profitable patterns : Hit RSI trendline, in an extreme oversold condition and then show bullish divergence (which is a sign of reversal).
We hit the 0.08 support, which is kinda bullish, after breaking the last bullish trendline and not showing strength to continue.
In Crypto, a 65-75% pullback is usually enough and then coins to pump. Now most people and companies have sold their bch and the miners have mined tons of it, which means it could pump again soon. Why? Because there will be less supply and more demand. Scammers, like Jihan Wu - Roger Ver - Brian Armstrong - Erik Vorhees, are playing their little games and have problably already gotten in, ready to pump it again.
My RSI 21 OHLC made one of my best and most profitable patterns : Hit RSI trendline, in an extreme oversold condition and then show bullish divergence (which is a sign of reversal).
We hit the 0.08 support, which is kinda bullish, after breaking the last bullish trendline and not showing strength to continue.
In Crypto, a 65-75% pullback is usually enough and then coins to pump. Now most people and companies have sold their bch and the miners have mined tons of it, which means it could pump again soon. Why? Because there will be less supply and more demand. Scammers, like Jihan Wu - Roger Ver - Brian Armstrong - Erik Vorhees, are playing their little games and have problably already gotten in, ready to pump it again.
Again, I am just analysing the market because I find it interesting. I am not taking any trades based on it.
The pain in altcoins seems to be getting smaller, but if Bitcoin really crosses 4500$ they are done. In terms of USD I don't really see alts really moving much without news. It will all depend on what Bitcoin does.