BCH > Always lagging compared to the BTC run. Expect this to move fast once btc moves up to +/-70k short term.
This could see $1200 if BTC manages to go towards the 70k.
- Take profits along the way on this one, BTC will have plenty of 20-30% drawbacks the coming months. Buy back in on those moments. BCH will overreact both to the upside and downside. Be cautious.
Staircase pattern should have brought the second leg up to $300. Oversell because of the weak market should result in overbought territory as drawn in the green triangles .
- Be cautious for more downside due to the markets rolling over, further downside can destroy this Technical Analysis
Previous bull cycles show perfect overlap with the current one. comparing the PA we are now having similar PA as september 2017. Drawing from this and the increased adoption I expect BTC to follow a similar path.
- Be cautious of an extension caused by the weak markets these weeks. A steep sell off in equities could take BTC down with it.
