atorrealba

BCH Potential Short-term Bullish Reversal

BITTREX:BCCBTC   Bitcoin Cash / Bitcoin
BCH has formed a bullish pennant and might go for another retest of previous highs around 0.2-0.22

We currently had a sell off to 0.17-0.18 from bearish momentum. However, we have a bullish harami that just formed on the 30 minute- hourly charts this indicates a potential reversal back into the Pennant or a test of previous highs

Either way BCH is alternatively a profitable swing trade however, I am patiently waiting for the termination of this bearish continuation for both BCH and potentially BTC             before trading as you never want to trade in a downtrend.

BITFINEX:BCHUSD            
Trade active: Bullish Harami confirmed, strong potential for pennant to breakout. However there is a lot of resistance above 0.195+, waiting for a retest and confirmation
Comment: Bears are still fighting/bearish against BCC however 0.2 is a risky price to buy at. I'm expecting something else for BCC
Trade active: Bulls taking over BCC right now as indicated by huge volume candlestick
Bulls have taken over now, broke out of upper resistance, a potential upside into pennant channel awaits
+1 Reply
UsmanGhani atorrealba
@atorrealba, thanks mate.
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