As per usual, my target is hit and within a few days you can rebuy back in after a huge price drop. This is similar to most analysis I do where the top is hit and a retrace happens.
So BCH hit the target I indicated and then dropped when it hit the golden ratio of 1.618 where the peaked over 70. As per usual on BCH when it hits this level you sell or short as will drop to 30. Last time though, the lime green trendline on stopped the getting to 30.
Will it do it again or will we see BCH drop further and the hit 30 like it has done so every single time except the last time as explained about in my last analysis below on BCH?
If BCH breaks the lime green trendline it will hit the 30 level. BCH will then retouch the on the chart @ around $450.00 on it's way to the 30 level.
From there we re-evaluate the trend in the market and see if it will bounce off these levels or continue further down to the orange horizontal line @ around $360.00 which is where the MA 144 would roughly be also (the white moving average on the chart). The purple moving average line on the chart is the break point for a bounce or a drop to $360.00
If BCH can bounce off this lime green trendline on the chart and , BCH's next upside target would be $950.00
What are your thoughts on where BCH is heading?
Happy trading legends!
Take a look at my other charts and analysis below to see my unbelievable correct analysis record. If this kind of analysis interests you and you want more than just 1 or 2 correct chart analyses every month or so, check out my website and become a member. I use a discord channel as a trading room that I post analysis in as I see it when it happens. For instance, this trade last night I saw as it was happening: Buy LTC, sell at orange line. Rebuy once bounce down off orange line.
Follow me on Youtube and Twitter for more updates more frequently.