Looking at the bigger picture, weekly chart.
Bch has been accumulating since November 2018 (drama lama hard pork period).
It looks like that accumulation is over. What a coincidence tho, this coincides with bch halving, happening in 40 days roughly. Keep in mind bch halving happens before BTC halving, and whales love to make as much money as possible. So the focus is going to be on bch now, then on btc. So high volatility is expected.
Why do I think the accumulation is over? BCH bounced at 0.618 with a strong bounce, that's a good factor.
I could be wrong ofc, if btc starts collapsing again it could happen, given that btc didn't retrace at 0.618. Still the big picture of the BCH/BTC pair looks good at this point.
The post is for educational purpose only, if you decide to take a trade set your sl and do your own research. Good luck with your trades.
You can check my previous idea about BTC.
Bch has been accumulating since November 2018 (drama lama hard pork period).
It looks like that accumulation is over. What a coincidence tho, this coincides with bch halving, happening in 40 days roughly. Keep in mind bch halving happens before BTC halving, and whales love to make as much money as possible. So the focus is going to be on bch now, then on btc. So high volatility is expected.
Why do I think the accumulation is over? BCH bounced at 0.618 with a strong bounce, that's a good factor.
I could be wrong ofc, if btc starts collapsing again it could happen, given that btc didn't retrace at 0.618. Still the big picture of the BCH/BTC pair looks good at this point.
The post is for educational purpose only, if you decide to take a trade set your sl and do your own research. Good luck with your trades.
You can check my previous idea about BTC.