BCH looks like it has one more drop to it, perhaps to the 0.886 fibonacci around $130 roughly.
It has been channeling nicely, which can help us determine the bottom as we get closer.
I circled the Fixed Range volume that I suspect marks where the drop will stop.
There is a Demand zone marked in green at this same area too.
This will be the end of the retrace, then BCH will start the next major pump.
Even though I will mark this chart as Short, I am long term Long.
It has been channeling nicely, which can help us determine the bottom as we get closer.
I circled the Fixed Range volume that I suspect marks where the drop will stop.
There is a Demand zone marked in green at this same area too.
This will be the end of the retrace, then BCH will start the next major pump.
Even though I will mark this chart as Short, I am long term Long.
Comment:
BCH broke out the channel. In spite of that, my count and target still may hold. And of course, it has everything to do with the BTC shape. Here is an idea of how this might play out.
