I've been holding BCH for over a month. Fast growth in the beginning, but lately it's been having trouble regaining momentum. I made the mistake of ignoring the indicators and investing on emotion (see the three circles in the chart).
Currently, there's a possible rising wedge forming. We've already seen that in the quick crash yesterday BTC bounced back immediately but BCH cannot. There's also diminishing volume. It could very well retest $1200.
On the flip side, there was a bullish crab earlier, though yesterday's crash may have cancelled out the momentum there. If BCH can break back in channel (>$1650), a retest of $1200 can be avoided.
Currently, there's a possible rising wedge forming. We've already seen that in the quick crash yesterday BTC bounced back immediately but BCH cannot. There's also diminishing volume. It could very well retest $1200.
On the flip side, there was a bullish crab earlier, though yesterday's crash may have cancelled out the momentum there. If BCH can break back in channel (>$1650), a retest of $1200 can be avoided.
Comment:
Shit, I should've sold it earlier, like so many times over.
Comment:
I think this is confirmed.
