What do the charts Say?
- BCH SV is currently in a triangle , this means that when it breaks out from $100, it will fill the gap at $110 before deciding to climb to fill the last gap at $120.
BCH SV on the higher time frames has filled a , the market disagrees it will go below the level fo $89.
is decreasing, meaning a volatile move will occur.
has crossed-over at current levels; this coupled with the rising Accumulation indicates that it will rise to the top of the at $100.
Nouvive Intelligence points out that market sentiment is rising to previous highs and this is currently not a crowded trade.
Both bottoms occurred on the 0.5 Fibonacci, a move to fill the gap and to the tip of the triangle is at the 0.618 fibonacci.
- It is unlikely but BCH SV may fall to fill the gaps at $87 and $77 where the 0.382 fibonacci is currently at.
If that happens, it will past the previous local low of $85, meaning above down to the 0.236 fibonacci is likely and closer to the previous support at $55.71
Traders: An entry at $90 to the tip of the triangle and below the 0.618 fib is an 11% move and based on market sentiment may occur within the next 10 days.
Investors: An entry at $88 and a stop loss at $85 with a take profit at $120 will occur based on Market sentiment by the end of the year for a 30% gain.