Bitcoin CASH, Is it A Sleeping GIANT Or Just Sideway Doomed?!

Hello Traders Investors And Community, welcome to this analysis where we are looking at recent events, the current formation which build up the last time, and what we can expect in price action and possible opportunities in the next days, weeks, and hours from BITCOIN CASH. Currently, the whole cryptocurrency space is showing up some interesting signals which can be worthwhile to look at, where some coins looking rather bearish and without momentum, there are coins that just skyrocket and making new highs which are showing the big differences in the market similar to those mechanisms seen in the past in stocks or commodities coming to the surface now where the spread between the assets gets bigger and a possible arbitrage can provide useful to short one asset and simultaneously long the other.

When looking at the daily perspective on my chart we can examine that BITCOIN CASH is trading in this huge long-lasting sideway consolidation where it recently showed some downside action but immediately recovered with a strong move to the upside where it is currently testing the remaining upper levels as you can see it in my chart. Now as these levels are still strong there is a high likelihood given that BITCOIN CASH confirms them as resistance before moving on with the consolidation which is building up a huge sideways channel here where BITCOIN CASH will show a decisive breakout in one direction which in this case is more possible the bullish breakout as there are still important remaining support structures in the range and the POINT OF CONTROL which you can watch in my chart where the coin has the most volume at all.

Furthermore, BITCOIN CASH is about to complete its overall big and meaningful wave count correction, and when this completed it can be ready for another impulse to the upside. When the scenario plays out properly and BITCOIN CASH shows a breakout above the upper line of the triangle formation when the correctional phase in the triangle ended this can cause a huge and significant exponential growth as you can watch it marked in my chart where BITCOIN CASH can show some heavy and volatile exponential moves to the upside to point on targets and the resistance structures remaining there, remember that this will likely confirm with a volatile move above the upper boundary otherwise it can be a fake-out where BITCOIN CASH does not manage to breakout sufficiently and firstly visits some lower levels to possibly test the upper boundary again when this happened.

Overall we can come to the conclusion that BITCOIN CASH is a possible sleeping giant that is providing a decent setup to grow in the next weeks and months as it has still not rallied that much like it is seen in other currencies and BITCOIN CASH still near the bottom line. Therefore it will be interesting to see how this will develop and if other currencies can afford to hold on to this level when the breakout happens. Keep in mind that the breakout has to confirm properly before that there is no technical basis given that BITCOIN CASH will confirm its growth, in this instance, I see many people who call for the complete moon or breakdown to reach in just one week which is mere hypnotization at the moment and as sophisticated traders we should almost always wait on the proper confirmation before deciding to take action in the markets and confirm to massive price projections.

In this manner, thank you for watching, support for more market insight, have a great day and all the best to you!
Science is organized knowledge. Wisdom is organized life.

Information provided is only educational and should not be used to take action in the markets.