Bitcoin cash coiling for a final leg up!
Good day Traders,
BCH seems to be contracting within a B wave triangle and has just completed wave E of B imo before the next final leg up to complete wave C of the zigzag (wave E usually falls short of triangle support).
We've already had a 50/100 bullish cross on the daily and the 200 day is perfectly aligned with triangle resistance at around $267. Successful break and retest of that level and expect green wireworks! (lines up with my expectations of one last pump for DAX, SPX, DJI, BTC etc before US elections)
Currently below the MA50 but holding above MA100. Decreasing sell volume on each drop which means there's weakening sell pressure. Looking forward to the next few weeks!
BCH seems to be contracting within a B wave triangle and has just completed wave E of B imo before the next final leg up to complete wave C of the zigzag (wave E usually falls short of triangle support).
We've already had a 50/100 bullish cross on the daily and the 200 day is perfectly aligned with triangle resistance at around $267. Successful break and retest of that level and expect green wireworks! (lines up with my expectations of one last pump for DAX, SPX, DJI, BTC etc before US elections)
Currently below the MA50 but holding above MA100. Decreasing sell volume on each drop which means there's weakening sell pressure. Looking forward to the next few weeks!
Comment:
Nice little shakeout and close back above 100DMA. I think that was the dip and heading higher from here. Extended bullish divergence now on 6H MFI.
