Update:
Bcash, Bitcoin Cash, etc. is consolidating against BTC, with Bbands tightening and price approaching the end of a triangle on the 4 hour.
Price just attempted to break above the 200EMA and was rejected after a bearish crossover previously. Price still currently sitting under TK as well.
Whether we continue upwards or not, I think a dip below trendline is likely to stop out any positions before a move upwards (head fake), or the downtrend continues closer to support around 0.1 - Either way, have strong hands or a tight stop before going long. Below are a collection of my thoughts on it currently:
Bull case:
- Holding up against USD
- Consolidating
- Still sitting above trendline
- BTC difficulty adjustment in 2 days (when Roger Ver decided to pump $BCH previously)
- Cloud thinning
- BCH add to Bitstamp tomorrow
Neutral:
- Bbands squeezing
Bear Case:
- "Death Cross" over 200 EMA
- Under cloud, bearish tk cross
- Resting on trendline, ready to break below
- BTC starting to look bullish again
Will update idea after break either up or down. You can find link to BCH/USD idea below.
Bcash, Bitcoin Cash, etc. is consolidating against BTC, with Bbands tightening and price approaching the end of a triangle on the 4 hour.
Price just attempted to break above the 200EMA and was rejected after a bearish crossover previously. Price still currently sitting under TK as well.
Whether we continue upwards or not, I think a dip below trendline is likely to stop out any positions before a move upwards (head fake), or the downtrend continues closer to support around 0.1 - Either way, have strong hands or a tight stop before going long. Below are a collection of my thoughts on it currently:
Bull case:
- Holding up against USD
- Consolidating
- Still sitting above trendline
- BTC difficulty adjustment in 2 days (when Roger Ver decided to pump $BCH previously)
- Cloud thinning
- BCH add to Bitstamp tomorrow
Neutral:
- Bbands squeezing
Bear Case:
- "Death Cross" over 200 EMA
- Under cloud, bearish tk cross
- Resting on trendline, ready to break below
- BTC starting to look bullish again
Will update idea after break either up or down. You can find link to BCH/USD idea below.
Comment:
$USD pair idea can be found here:
