Bcash consolidated well and the market crash didnt hit it hard. Now looks like a breakout, you can buy now or until 0.13 levels, would be breakout point
If it goes under 0.12 we sell it, maybe stoploss .15
So BCH hit the 0.618 FIB which happened to be the 2nd of the 3 support zones. It also hit the broken resistance line which turned into support.
Now BCH has slow blocks, which makes it a lot easier to pump (it means users can't really deposit coins into exchanges to sell them, so the already restricted supply, gets more restricted). Miners sold...
$BCH is forming what seems te be a falling wedge. Its struggling to stay above toe 0.5 fib extension. Will it form a cup and (double) handle to make a moonshot after? It might test last high at 0.225, dont think it will go higher than that but its crypto, anything can happen really!
After the rally that started 8/17, BCHBTC pair found back support at 0.1385 and 0.1576 (which is 0.5 retracement).
Since this seems to be a bullish market, a break of downtrend line could lead back to ATH. However, market is in range conditions.
Consider MA20 just crossed below MA50, which is a bearish sign.
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Whereas 0.5 fib was acting as resistance, it now acts as support. Combine that with tweets from John McAfee, a noted BCH supporter, saying he is mining BTC because it is more profitable (right now) vs mining BCH, you can assume he (and other BCH supporters) are buying BCH with their freshly mined BTC.
Long term target is 0.53 BCHBTC, the 2.618 fib extension from...
After its mega pump and dump, Bitcoin cash is aiming for a second round. After doubling in a day, it aims to take another 50% increase (or 3x in a few days).
It is a clear cup and handle, with a target at 0.18BTC. However there is strong resistance between 0.14-0.16, where you can sell and buy back in lower before the final target. So if 0.12 is broken with high...