Bitcoin Cash's Massive Falling Wedge (8-9x ROI Potential)
Looking at the daily chart for BCH, you can see the massive falling wedge that goes back to the beginning of BCH back in August of 2017. Using the wedge heights to predict our target price, we have the potential for a 8-9x gain here if either target is hit. Most exchanges have converted to a BCHABC chart which lacks all of BCH's previous price action history, so this may go unseen by many. BCH is almost 20x off its all-time high and it is no stranger to massive pumps. If the price can break overhead resistance, just buy and hodl.
I am going to BUY ON THE BREAKOUT. Why? Well this resistance has rejected the price 5 times before minus the Nov 2017 pump. The MACD is a starting to capitulate at the zero line. If the price can't break through resistance, it may send the price down (possibly way down). I am secretly hoping for this so the gains are even greater upon breakout. Let's see what happens!
I am going to BUY ON THE BREAKOUT. Why? Well this resistance has rejected the price 5 times before minus the Nov 2017 pump. The MACD is a starting to capitulate at the zero line. If the price can't break through resistance, it may send the price down (possibly way down). I am secretly hoping for this so the gains are even greater upon breakout. Let's see what happens!
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On a smaller time-frame, the 4-hour chart is looking bearish as it approaches resistance. Make sure you wait for the breakout.
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This is starting to look really good
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Holding for now at the neckline, but you can see the big head and shoulders.