DrJLT
Short

BCH at critical point, could crash to $300 or bounce from here

BITFINEX:BCHUSD   Bitcoin Cash / U.S. Dollar
443 2 9
BCH has been under the downward trend line since mid-Dec (thick red on chart). At the same time, the mid-term support from Oct 2017 has also caught up.

The market is still undecided, and I suspect in the next 24h we may see some minor growth.

However, we're obviously under heavy resistance (no need to explain in detail). If you see the chart, there's an empty space between $1k and $300, which is just a bit lower than where a 0A=BC correction would take us to.

Unless some major efforts are made, I think this one is going down to seek support by the end of this week.

Comment: btw, there's also a H&S w/ neckline at 1125
Comment: I think this is almost a confirmed break down. Just a little more (940) would probably mean at least a fall to 725
BCH 300? can't wait!
+1 Reply
@ha2, that's the lowest. There's also higher targets of 725, 600, & 440.
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