Things are turning interesting here.
Decreased volatility for the last few days is an indication of volatile price change is in the near future.
We are more likely to have a rally, than a decline, as we are finishing what appears to be a micro 1-5,abc pattern.
If the price continue to stabilize, this will lead for the price action for Alt coins accumulation,...
I believe a inverse head & shoulders pattern is developping.
I'm looking for the price to retrace to $309 and then buy some $BCH in hope for the price to go back to $318 which would validate the pattern, and smash through the moving average resistance up to $336.
$BCH is a sleeping beast, I am betting on it.
Ok don't listen to all those complicated charts, here's the simple thing :
We have confluence of the 50 weekly MA as support, also with this trendline from last december lows.
For me personally, I have a bullish bias and I go with the uptrend, so I would like to see a retest of the $300 levels and watch closely the price action (in hope to go long). Needless to...
Took a small short term position here at 872 ...BCH chart is mimicking BTC and I am expecting one last extended wave up on BTC before further down. Would have prefered multiple FIb supports, rather than just horizontal local so will be running with 2% stop as opposed to usual looser stops.
Reasons for open position:
- Price broke trendline
- Price locally change trend to downward
- Sell zone by trend
- Target is 323.75$
Guys, if you like the idea please put like button and if you have your own ideas you can share it in comments, I would like to see it.
Also, you can ask me questions which you have in comments! Please no need to...
When Wave 3 is less than 1.62, the 5th Wave overextends itself.
From research, the ratio of Wave 5 will be based on the entire length from the beginning of Wave 1 to the top of Wave 3.
Extended Wave 5 = either 0.62 x length
(beginning of Wave 1 to top of Wave 3) or = length of
(beginning of Wave 1 to top of Wave 3) or = 1.62 x length of
Conclusion for today’s Bitcoin Cash Analysis: Price closing below ~303.31 implies further downside in Bitcoin Cash.
Bitcoin cash technical analysis for today examines the cryptocurrency on a Daily timeframe using a log scale. Price action from July 20, 2018 till current date is presented with the period including the previous downtrend in Bitcoin Cash that...
Although most traders are currently bullish on BCH i am bearish for multiple reasons:
1- Lets start with volume or lack of. Yes we have broken out of the downtrend line but with very little volume. As with any breakout its always important to see high volume to confirm a trend reversal.
2- Divergence-after displaying bearish divergence for well over 1 month...