BCHUSD fits the Bearish Pennant configuration with an expected decline of 6-7%. It will later recover 3-4% to rebalance itself to a previous value before the weekends surge.
Comment
⋅
First threshold has just hit. Keep tabs on upturn between now and the lower 3
Trade closed manually
⋅
1st target hit 1579 with a reversal to 1635. Further forecast is now out of date and target.
great call buddy ^^ now I bought it at support hehe
novasuper
⋅
@ppopprince, I should have followed this chart. I panicked and bought short. Good play buddy!
Doc-al-Citadel
⋅
Thanks. Yeah needs to keep forming the handle ;-)
novasuper
⋅
@qdoc, you think its moving to a cup and handle config?
Doc-al-Citadel
⋅
@novasuper, yes i do a medium term one, i did some ideas on it ;-) I am FA not Ta tho!!!
novasuper
⋅
@qdoc, I just looked at your combined charts. As you extend the time frame I see your C&H. I think that will happen tomorrow with a retreat today.
Doc-al-Citadel
⋅
@novasuper, cool thanks. I was thinking it might take a little longer for consolidation/retreat. I'm no a chart guy so thanks for bearing with me, ps there is one called btg bch synchrony which might show it better I think it's like a cup and hence handle that's been forming basically for the last couple of weeks since the last ATHs. And funny how btg also doing and possibly even some of the alts. Something big is on the 'horizon' me thinks ;-)