- Bitcoin Cash touched bottom on early December 2018 just like Bitcoin , so Bitcoin Cash knows how to follow its dad. Anyways, after this low an uptrend formed, we know this by noticing higher highs and higher lows.
- The growth stopped when BCHABC hit EMA50 (magenta line), which led to a retrace up to 0.618 Fib retracement from the last wave.
- Now, this is where I see the setup... There is no on the retrace. We have a dragonfly and still trading above EMA10. So not much down left to do, now we go up as our next move.
- is but trending towards the bulls.
With the altcoins market heating up and the phase we are on, it is only a matter of time before Bitcoin Cash takes off.
Conditions for change: The first warning would come as a close below EMA10. The uptrend line (red dotted) still remains as support, but if BCHABC closes below 0.037000, then our view is damaged and a new analysis is needed before the next call.
What's your take on Bitcoin Cash ABC?
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This is Alan Masters, thanks a lot for your continued support.