BCH has touched the 1.272 fib extension of last upward trend, also it touched the 0.382 Fib Re of daily downward trend, it's huge challenges to breakthrough 0.382 Fib, mostly it will drop to the short target 1 or short target 2, triangular finishing region is ready for beakthrough
Entry point: 224.180
Stop point: 231
short target 1: 214.480
short target 2:...
BCH is facing daily resistance area and 0.382 Fib Re, it has touch 0.382Fib forth time, but all test failed, this time is the fifth time, there is 30min rest to finish this test, i think it will fail again
short target 1: 214.480, then test 0.382 Fib again, long target is 1.272 Fib Extension 237.915
short target 2: 210.162, then test 0.382 Fib again, long target...
new resistance level - 0.236 Fib the
Now, I can find more than three resistance level:
1/ 0.236 Fib of 10817.05-6408.37
2/ 0.618 Fib of whole 2019
3/ 0.618 Fib of (i, n)
4/ Downtrend line of (i, c)
5/ resistance area
As we see, the price is running around of 0.618 Fib, at the same time, it is running in the descending triangle area, the big change will occur at the end, although the price has tested 6500 area twice, but the raise was not enough, the volume is not decline.
The market will repeat itself, so I think bitcoin will face a large drop, then touch 0.786 Fib and enter...