BCH - Another Leg up continuation on its Massive Pump
BCH - Bitcoin Cash is a fork (variant) of bitcoin that was branched off in 2017. The technical difference between Bitcoin Cash and Bitcoin is that Bitcoin Cash allows larger blocks in its blockchain than Bitcoin which, in theory, allows it to process more transactions per second.
BCH has underwent an insane run from 683 to 1611 from 23 April in mere weeks, now we see cup and handle formation playing out, and the formation of bullish pennant/flag where it hit an ATH at 1611 and pulled back to find strong support at 0.618 fib level ( 1250-1265 ). This area has held up 4-5 times, with strong bullish action upon touching this support zone. So now we anticipate a breakout of this bullish flag out of the top resistance line, good entries are at the bottom of the flag where the support is at 0.618 fib around 1308 - 1257. From here we look to target firstly the ATH at 1611, next target will be 1930 (the extension of the bullish flag confluence with the target of a completed cup and handle formation) at 1930 and the 1.618 fib level at 2185.
Entries at 1257 - 1308
Targets are 1611, 1930, 2185 as described above.
Stop loss according to risk appetites : 1174, 1103 or 1050 (in the 0.5 to 0.382 zone where we see strong support lines which were previous resistance)
BCH has underwent an insane run from 683 to 1611 from 23 April in mere weeks, now we see cup and handle formation playing out, and the formation of bullish pennant/flag where it hit an ATH at 1611 and pulled back to find strong support at 0.618 fib level ( 1250-1265 ). This area has held up 4-5 times, with strong bullish action upon touching this support zone. So now we anticipate a breakout of this bullish flag out of the top resistance line, good entries are at the bottom of the flag where the support is at 0.618 fib around 1308 - 1257. From here we look to target firstly the ATH at 1611, next target will be 1930 (the extension of the bullish flag confluence with the target of a completed cup and handle formation) at 1930 and the 1.618 fib level at 2185.
Entries at 1257 - 1308
Targets are 1611, 1930, 2185 as described above.
Stop loss according to risk appetites : 1174, 1103 or 1050 (in the 0.5 to 0.382 zone where we see strong support lines which were previous resistance)
Trade active:
Target 1 - hit 1610
Trade closed: target reached:
Gave us two LONGs profit opportunities from entry to target and back. WOW!
