The sky is the limit for BCH. I can see how an elliot wave continuation pattern could play out on a daily chart following that last monster up move.
Just as i suspected we saw consolidation around the 550 level, which aligned with the 50% fib, and is now resting on the 61.8% fib level.
On the 1H chart, bulls have retained control of the 20MA and is now pushing to stretch the top bollinger band. If this 61.8% level holds ($600), we could see another power move up towards $1500
When the 4h chart shows bull control, I will be doubling down my position.
Have a great trading day everyone.
Just as i suspected we saw consolidation around the 550 level, which aligned with the 50% fib, and is now resting on the 61.8% fib level.
On the 1H chart, bulls have retained control of the 20MA and is now pushing to stretch the top bollinger band. If this 61.8% level holds ($600), we could see another power move up towards $1500
When the 4h chart shows bull control, I will be doubling down my position.
Have a great trading day everyone.