DrJLT
Short

BCHUSD Head & shoulders, retracement, extension

BITFINEX:BCHUSD   None
BCH seems to be quite strong today, or is it?

After confirming the H&S neckline, BCH retested it & failed. This is the single most reliable setup in TA.

Now, we see a retracement, which can help us guess where the next target could be (as charted).

Retracement target is between 1080 & 1160.

Alternatively, we do see a potential bearish swing failure. I personally think this is not so because the bearish impulse hasn't finished.
May 25
Comment: strong spoofing going on --- dump soon?
May 28
Comment: I have a feeling that BCH may just miss the target & bounce earlier, 820?

Cashening
Reply
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