BCH 1D. BCH loves to play the wild card. Published 4/8/19
On the BCH daily I am again seeing more bullish signs then bearish. First one being 12MA is about to cross the 200MA and the price hit the 200, briefly consolidated, then pushed right through, creating a little support there (white line). Bears are looking at the RSI of 79 and how easily this one moves but if I were able to short I would be looking for the gap fill reversal over a short here. We also have a big, (somewhat) symmetrical triangle bull flag. Again I think I would not be thinking of shorting BCH here if I was a bear. Volume is declining while price is consolidating up. MacD shows bull needing to slow down.
After looking at the weekly and now the daily:
I am left with these conclusions: BCH is a bit of a wild card and it tends to not do what you expect (from my past experience). I am expecting a test of the top of the gap then a reversal, but again, this one tends to not do what I expect so I’m going to watch for the contrary pull back to the 200MA and then another spike up past the top of the gap and then the gap becomes support. Perhaps even a pull back to the lower green box. Sorry this is more of a gut reaction to what I’ve experienced with this coin but looking for these lower entries will provide better risk to reward. I like to say BCH is a stallion in a world of bulls and bears so I'm going to try and lasso this one from a distance.
After looking at the weekly and now the daily:
I am left with these conclusions: BCH is a bit of a wild card and it tends to not do what you expect (from my past experience). I am expecting a test of the top of the gap then a reversal, but again, this one tends to not do what I expect so I’m going to watch for the contrary pull back to the 200MA and then another spike up past the top of the gap and then the gap becomes support. Perhaps even a pull back to the lower green box. Sorry this is more of a gut reaction to what I’ve experienced with this coin but looking for these lower entries will provide better risk to reward. I like to say BCH is a stallion in a world of bulls and bears so I'm going to try and lasso this one from a distance.
