Bitcoin Cash has gotten hammered, clinging onto $1,200 for support. It is difficult to believe that just a few days ago this coin was in the $1,500's. BCH reacts wildly to bearish trends, but typically is slow to react to bullish trends. We've broken through support from the central moving average of the KRI at $1,271. We'll have support from Fibonacci levels at $1,144, $965, then the lower bound of the KRI at $936. If momentum reignites, we must conquer numerous levels in the $1,200's and $1,300's so that vacuum zone to $1,600 seems to be light years away. Levels of resistance from above include $1,271, $1,300, $1,400, $1,438, $1,500, and $1,522. The upper bound of the KRI will be the next point of resistance at $1,624, then after that, $1,764, the lower anchor of our nested Fibonacci levels, seems to be a reasonable target.
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I'm looking at lower levels before I even consider higher. BTC will drag us down to revisit lows before November pump. See you at the bottom.....
quantguy
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@KingMR, Exactly. We're at war again right now. Keep levels in mind and be judicious when going long for now. Wait for buying pressure, which just isn't there atm...
Doc-al-Citadel
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problem with this coin is when it pops you can't catch it or rather i can't :-(
quantguy
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@qdoc, Exactly It pops whenever the f it feels like it. That and it gets hit so hard when the crypto market is bearish.