BCH could very soon break out of the descending triangle. The RSI is rather oversold too, but not in an clear signal Phase. If it will not break out it can descend to 0.14333 BTC. That will make an up from there Movement even more likely. At this time the RSI would be in an clearly oversold position. If it still won't break out, the probbability is high, for it to further descend to around 0.0799 BTC
If it breaks below 1540 we will have a double top. I was so optimistic but we have to plan in long terms
dfurrer45
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@kkc2003, Yes, usualy in BCH we have the Price moving side ways in the end of a triangle with very small volatility, before it explodes(probably with someone helping a little).
currently we dont have it looking like that.
So out of expirience with BCH i'd say it will in more longterm move at least down to 0.14333 BTC and then get pumped to 0.34 - 0.69 BTC.
But we will see, what happens.