BCH/USD - Descending triangle approaching apex, what next?

BCH has formed a descending triangle as indicated by the blue shape which is ranging between resistance ($600) and support ($400).

Price is now quickly approaching a decision time whereby it can break-up to retest the $600 level or seek lower support. We should know by early February.

4h indicators are flat, however on the daily we can see that we are trying to gather strength for a bullish bias where MACD histogram and Stoch RSI are curving up.

At this point, it is really up to BTC and ETH to set the tone for the overall market. In both cases we are at support levels so a new breakdown to lower levels may pull BCH down as well. To be seen.

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