BCH still dropping towards the 750 target

BCH is still dropping and very bearish at the moment. As long as it stays within this descending channel there is absolutely no reason to think about a rally any time soon. It has dropped out of that bear flag as well and has started to accelerate down again. The target of the H&S which i posted in my previous analysis on BCH is still not reached and is around the 700/800. For the ones who have shorted it from the highs it's always good to lock in some profits. Only a rally above the 1000ish could cool things down and might change things.



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Previous analysis on BCH

Comment:

A small rally here above the 940 could cool things down for now

Comment:

BCH looks weaker than most other Alts, seems to have broken that support line already and the high it just made was even lower than yesterday's high. So chances are much bigger it will continue down. Think those 2 area's are the levels to watch.