Why do I think now is a good time to buy?
Well, as you can see here, it takes two times to create a pattern, and we have an obvious pattern going on that if played out exactly as BCH has before, should lead us to the 540 upto 590 range, which is a pretty nice profit if you got in around 400.
Of course, the markets tend to decide for themselves how they play out, and suggesting that it will follow this route is dangerous on its own, if not for three things..
1. The Stochastic RSI shows that BCH is currently under-bought, which is to suggest that from a technical standpoint it is currently undervalued.
2. The Bollinger Bands are showing a strong squeezing happening; this suggests that BCH is poised to make a big move.
3. BCH has a history of creating a W pattern in the local bottoms before jumping double digit percentages even higher; you can verify this yourself.
If BCH followed this pattern one more time, we could easily see a 30% price jump from current values.
So, in conclusion, if I were to suggest buy-ins and profit-taking numbers; it would be anywhere less than 400 and anywhere above 540-590 respectively.
Best of luck!
Well, as you can see here, it takes two times to create a pattern, and we have an obvious pattern going on that if played out exactly as BCH has before, should lead us to the 540 upto 590 range, which is a pretty nice profit if you got in around 400.
Of course, the markets tend to decide for themselves how they play out, and suggesting that it will follow this route is dangerous on its own, if not for three things..
1. The Stochastic RSI shows that BCH is currently under-bought, which is to suggest that from a technical standpoint it is currently undervalued.
2. The Bollinger Bands are showing a strong squeezing happening; this suggests that BCH is poised to make a big move.
3. BCH has a history of creating a W pattern in the local bottoms before jumping double digit percentages even higher; you can verify this yourself.
If BCH followed this pattern one more time, we could easily see a 30% price jump from current values.
So, in conclusion, if I were to suggest buy-ins and profit-taking numbers; it would be anywhere less than 400 and anywhere above 540-590 respectively.
Best of luck!