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Using fractal analysis we can see a similar behaviour to what happened exactly after the last parabolic raise. Taking also into account charting principles descending triangles break down so we can expect BTC to go below 4.8K or even further down.
This is it
Bcash BCH displays a classic H&S pattern in the daily chart, MACD supports downward movement. If we consider fundamentals the general public is now more aware that Bcash is just one for fork of bitcoin in spite futile attempts of its founders to pump their alt coin. The good news about this besides the imminent dead of this alt coin is that we can make more BTC ...
BTC Bounces off daily horizontal support. RSI confirm bullish momentum. MACD confirm upward movement. We should be able to reach the top downtrend resistance. For early alerts reach me on Tele with the same handle/nick.
BTC bounced back from the down trendline, SMA100 and SMA50 have crossed the price resembles a doubletop that has broken the neckline, the volume looks right. We should Expect price to hit the .786 fib Long trades should be avoided.
Bitcoin breaks out decisively off the new Inverted H&S neckline and stays above SMA 50. MACD supports the upward movement. We could see a small retracement to the 8900-8800 levels only to shoot back up. Scalping with shorts in this area should be avoided due to the presence of sudden rising candles. Be mindfull of the horizontal resistance levels at 10k and 12k.
BTC breaks above another Inverted H&S. 1D MACD supports upward movement. We can expect to break above 10,000.
Based on the latest price action BTC bounces from support and breaks concessively the Invested H&S pattern we should expect BTC to hit 8700- 9000.
If BTC follows the current fractal and bearish pennat we could see a downward movement to 8K.
Based on fractal analysis the price seems to be consolidating before raising further to a new ATH (8800) before declining to SMA 100, buy orders should be placed at around 6100.
Using fractal analysis we can see that BTC will begin a steady drop to SMA100. The drop matches the timeline of the fork which will be blamed for this fall, long orders should be placed at 6500, 6300. Profit targets are round numbers such as 6800 and 7000.