BTC is currently on a price run testing resistance. All markets have rallied with the exception of BCH which is currently finishing off leg E of ABCDE continuation pattern of the 2-week triangle and theoretically is on deck for a price run. Using fibonacci retracements and extension tools, we can calculate target prices of 3485-3566 (TP1) and 4115-4214 (TP1).
Below the price chart, illustrated is altcoin dominance. XRP and ADA are currently on a downtrend, ETH has just finished off a rally, and the remaining alts (sans BCH) have benefited from a global altcoin rally. Essentially, money should soon (if not already) flow from other alts and BTC into BCH.
We also have a new printed CBI2 signal (a measure of Bollinger band volatility) which has been a good indicator of imminent future price action. Now would be a good time to consider a position in BCH.
Below the price chart, illustrated is altcoin dominance. XRP and ADA are currently on a downtrend, ETH has just finished off a rally, and the remaining alts (sans BCH) have benefited from a global altcoin rally. Essentially, money should soon (if not already) flow from other alts and BTC into BCH.
We also have a new printed CBI2 signal (a measure of Bollinger band volatility) which has been a good indicator of imminent future price action. Now would be a good time to consider a position in BCH.
Comment:
Trend looks good. Here are your local buy-in levels.
