This is not financial advise
BCH has just broken out of the downtrend chart both on candle and both daily and weekly
This is an early sign signal for a bull cycle.
I say it is early sign because there can still a bulltrap for retracing to new low due to OBV hasn't broken out yet both weekly and daily too.
So what should we do ?
- aggressive buyers can wait for small retracement and buy.
-little conservative buyers can wait to see what happens next few days and wait for price to move CLOSE back to 12 and buy .
-conservative buyers should wait for breaking out of OBV and buy
in all of 3 cases, stop loss will be below 12
if BTC can hold above 7100$ after pullback, we can expect further up move from coins
only a break below the blue line will trigger more bear. If we still are above it, bull is in favor
I understand that lot of people are waiting for 5k. However, have they ever been right when bitcoin dumped at 20k ?
I don't know how high or low coins will go but I know that we are in a mid-term pump cycle again now. And Altcoin market cap has just broken out for 2 days. We might experience April's pump again and it usually lasts pretty long
However we can't ignore the bear case. If the low is broken, then yes it is.
I am 80% on the bull scene :)