I haven't updated BCH for a while. Long story short. I wouldn't touch it... BCH had a major rally, but that's also because it was embroiled in a lot of drama and it cleared up... slightly...
Call it a head and shoulders, call it breaking trendlines, crappy macd, crappy RSI, whatever. I call it weakness.
If we break 350 we go down hard.
Best of luck on this...
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we can see a small bearish momentum forming. Currently MACD is showing bearish divergence and same on the Stoch RSI.
Price broken out of the 3 MA's on...
always make trading simple and not using too many tools that make your decisions vague.
This is overview i perceive that may happen in short ; reaching targeted area where Red broken candles in Coin-base bch chart.
Not expecting too high in Long Run as some corrections are yet to be there in short term which may veer its direction or pause...
Last time i analysed BCHUSD, i noted that we could be seeing
a support at the blue line as now confirmed.
This drop has coincided with the BTCUSD and ETHUSD drop
that we have all witnessed.
Stoch RSI is now crossing over now also, we could be seeing
the start of the uptrend.
on the 7th Nov BTCUSD was around $630 now dropped
down to just below $207. this has...
BCHUSD drooooopped this week. this is a possibility it might even drop a lot lower to around $200. ~@&%
in a fairl world the bulls should rush in now. a word of caution... tread lightly.
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Did a TA on Bitcoin Cash against BTC. It shot up from 0.064 BTC all the way till 0.098 BTC after the announcement from binance that the hard fork token will be supported. Interestingly enough, it did not pass the point of 0.1 BTC and i think because there was a lot of sell orders at that point because of the rule of round number. Nonetheless, after doing a...
Analyzing the $BCH chart we can see a high probability of a down trend and hopeful retracement down the fibonacci level and moving averages.
My personal trade is as follows:
--open short position on 5x leverage at the .0750 level
--take profts at P1, P2
--close trade at the golden ratio .619 which also coincides with the 50 day moving average.