Looking at Bitcoin
Cash's daily chart
, we can see the price is currently testing overhead resistance. The setup isn't ideal as the price action looks like a giant bear flag
. But the MACD
has a bullish
cross over the signal line and with all the positive price action in the alt market the past couple days, it wouldn't surprise me to see BCH go on a bull run of its own. However, due to the weak set up, I am going err on the side of caution and have my buy order ready for the breakout. That way if the price gets rejected by resistance, I'll get BCH up to 10% cheaper.