Now finally we can see that the Bitcoin cash has broken out the resistance of the . So far it this move has produced more than 43% profit but the game is not over coz the indicators and oscillators are still turning .
In previous article we were waiting for exponential moving 10 to form a bull cross with 20 on day chart but now the bull cross is reflected upto 3 day chart and both moving averages has crossed down the priceline and lifting the price action up.
Previously the was turned upto 4hr short term chart but now it has turned upto day chart and lagging span has crossed up candles and cloud both and candle sticks has crossed up the cloud with strong rally which is a very strong sign for the future as well.
And before we had bull cross from on day chart and was turned strong now we have bull cross upto week chart and moving average convergence divergence is turned weak from strong and turning upto week chart.
On 2 day chart the price action had formed as below:
And now after taking the powerful the price action has hit the area of C to D leg and entered in sell zone of mid term trading setup a to watch it you can play the above idea.
Now we have a resistance at $304.48 once the price action will able to cross up the 0.786 of C to D leg the definitely the price action will hit at this resistance and if the pricline will be able to breakout this resistance the it will move to hit the next at $355.43 and this move can be rapid after this resistance we have key level resistance of Bitcoin Cash which is at $501which is not broken since Nov 2018 once it will be broken then a new bull rally will be started.
Moreover the on week chart is also on the play to give more power to price action as we are in the potential reversal zone of this big pattern.
Soon I will post more updates with the further developments in the price action of BCH.
Moreover I have shared tradingview link below where you can find my all trading ideas on different assets and I have also shared Binance exchanges link with some other useful links coz Binance has largest of every cryptocurrency with minimum trading constraints.
Atif Akbar (moon333)