botje11
Long

BCH seems to have formed a possible bottom formation

BITFINEX:BCHUSD   None
BCH is also looking more bullish lately. It has been a very weak one the past 2 months but things might be turning around now. Big chance it's inside a bull flag now, so we could see a small drop first before going up again. The first green should hold as support to keep this flag valid. The second one is important to keep momentum 50/50 in the mid-term.

Comment: Previous analysis:
Comment: BCH similar to other alts, not a dump but the drop is more than i would have hoped for in my bullish view for the market. Still inside a big bull flag, even though it is bigger than it should be, but there is still support around up to 455ish. Below that level means trouble.
Comment: I got allot of questions from inside and outside of my groups about BCH, so here comes an extra update.
The 500/510 has held very good since the squeeze up, even while Bitcoin was slowly dropping a little bit it seems the BCH are eager to go higher. They broke the resistance of the flag and the target is now around 600. On the right we can see the big wedge again from which it broke out of with this last move up. Now there is still always a chance for a test of support around 500, but as long as we stay above the 500, the wedge give us a target of around 800/900 for the coming month. But that would mean bitcoin has to break the mega resistance at 6800. That's easier said than done of course.
Comment: Bitcoin is failing again and the alts are dropping as well. It was already a weak sign that alts fell behing during Bitocins rally, now we know why. Looks like it has to drop to 500m which is the target of that triangle, But that level has to hold as well, if we drop too much below it, i don't see a big support until 450/40.

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Looks like it’s holding support steady. Lets get some good bullish volume please!!!
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@botje11 was that you justifying your analysis today ;)
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LTC > BCH ... The flippening will soon be upon us!!
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TNasr peakindicator
@peakindicator, What makes you think this?
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@TNasr, The flaws in BCH are becoming apparent. LTC is much more solid tech. BCH just has better advertising. Plus LTC already has mass adoption, IMO should be worth much more than it is currently valued
+1 Reply
TNasr peakindicator
@peakindicator, Thanks for the response looks like the flippening may be here!
+1 Reply
Let's hope that whole market just goes bull :)
+2 Reply
botje11 iamanupam
@iamanupam, Fine by me :)
+2 Reply
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