BitcoinCash is currently finishing up its second bullish pennant. The recent trend appears to be a push followed by a 50% retrace, only to push again to the 1.618 fib. If the price continues to follow this trend we could see $840 over the next week or two.
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Comment:
The Segwit 2x announcement caused panic selling across most crypto markets. BCH price dropped a considerable amount; but the bleeding candle closed, and the first recovery green opened, at the 50% retrace level. BCH is back at it's pre-panic levels and my original analysis still applies.
Trade closed: target reached
Comment:
This trading idea closed, the target was reached. The trend is still moving up, so my trade is still open.