A break down to $880 is likely if this triangle continues. If the drop continues below $850, this is a strong indicator of a more bearish long term trend.
I did say "if the triangle continues". But, yes, it did go the opposite way from what I was expecting.
petrusali
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@eliaswinnard, got another analytic according to current condition? I see a very thick resistance cloud on Ichimoku until Nov 25th.
a1630
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@petrusali, I am very new to TA, so I do not think I can predict the time frame in which more price movements will occur. However, I do not predict much volatility in the next few weeks. BCH seems pretty locked in to the $800-$1500 range. It seems to be the general consensus that a movement above about $1500 would lead to another rally, and I agree with this. I think that would be a good buy opportunity, but I am not confident in buying a break below the resistance.
petrusali
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@eliaswinnard, so you are new to TA? But your TA is pretty good for me.
a1630
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@petrusali, I have been pretty accurate so far, but I have not attempted long-term predictions so far. The market has been very bullish these past few days, so continuation has been easier to spot.
a1630
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@petrusali, Also, thanks for the feedback. It means a lot.
petrusali
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@eliaswinnard, you're welcome and thanks for sharing.