Target 1: 26650
Target 2: 27800
Target 3: 28840
Stop Loss: 24250
The reason why Bitcoin Cash (BCH or BCHABC) is despite having a similar setup to XRP is for two main reasons:
- Technical indicators support a stronger evidence for momentum
- While confirmation is yet to be provided, it could be argued that BCH has broken out of the descending pattern
As a descending pattern in a downtrend is typically identified as a reversal pattern, we suggest a long position with targets leading up to previous historical resistance levels, and a tight stop loss below significant support.