As a follow-up to my BCCUSD analysis, I am taking a look at BCCBTC. on the 4-hour chart, I am seeing what could be the formation of a second bounce indicated by a rising wedge, but the downtrend in the upper (resistance) line could also point to the formation of a head and shoulders signaling a downtrend.
If it breaks the resistance line, we may see upwards of 0.091 BTC, otherwise a correction to 0.067 to 0.07 BTC may be in order.
DISCLAIMER: I am not a professional trader, and as such, cannot provide trading advice. Any analysis provided here is my personal opinion, based on my own observations and should not be taken as fact. Any trading done using my analysis is at your own risk, and you understand that your decisions are your responsibility, and as such, cannot be attributed to me.
If it breaks the resistance line, we may see upwards of 0.091 BTC, otherwise a correction to 0.067 to 0.07 BTC may be in order.
DISCLAIMER: I am not a professional trader, and as such, cannot provide trading advice. Any analysis provided here is my personal opinion, based on my own observations and should not be taken as fact. Any trading done using my analysis is at your own risk, and you understand that your decisions are your responsibility, and as such, cannot be attributed to me.
Comment:
I meant to say that we could see it upwards of 0.091 BTC after the bounce.
Comment:
Looks like the pattern broke outside the trend lines a couple of times, but overall happy with my call. It’s up over 0.095 already and I made the mistake of pulling out a little too soon. Oh well, I still made profit and that’s what counts.
Comment:
Previous overlay on current chart for comparison (at least as closely as I could reproduce it, anyway.... still figuring out the tools on here):
