I was asked to look at Bitcoin Cash (BCHABCBTC) by one of our readers... On a close up of the daily chart, I didn't see much strength at first, in fact, I saw weakness and was about to close the chart.
Chart:
Then I noticed the higher lows and zoomed out to get a better picture... Bitcoin Cash actually looks good.
We can see the MACD now entering the bullish zone and showing a year-long bullish divergence.
Trading above EMA10 with a bullish (50+) RSI.
We can also see a broken down trendline.
Additional volume is missing or BCHABC can move back down... But with Bitcoin now consolidating and the altcoins turn coming, it is likely that there will be a follow-up... We believe BCHABCBTC can move higher.
Conditions for change: If BHCABCBTC moves below and closes 0.0259 BTC, the above signals become invalid and a new and updated analysis is needed.
Thanks a lot for reading. Remember to hit like again and gain.