By the look of it we may have a H&S "by the book". It would confirm by crossing the neck line, usually followed by a small correction then dumping as low the distance from the neck line to the highest point.
#BitcoinCash | $BCC $BCC looks Primed & Ready to RUN to $850! or atleast a double top.
We entered this position too early, w/ a $100k average @ $578.34.
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BCC Just Broke up the descending trend line and further move up is expected. Targets are around 607 and 623 and 640.
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Everyone and his dog talking about 50% up on Bitcoin Cash based on speculation related to the upcoming fork…
Great but if you are not long from 500 USD or below and you are trying to chase the price here it may end up badly ( simply it might be you turning the light off ;) )
Based on that chart we are in consolidation phase at best ( from beging of September )...
We are on a strong upwards trend testing the upper resistance of a larger down trend. We are getting near the 15th November, date of the announced fork.
Some days before traders are going to short it... therefor I draw a "short risk zone" with the upper resistances.