BTC is forming a hanging man in the daily, which means a bearish signal and potenially a trend reversal, but this stays true only if the price closes where is it now.
So let's wait and see where the close will be.
- BCH is forming a very strong divergence in the RSI.
- And we are missing the last leg in the descending rectangle which could be possibly the last dip before we start going sideways and then reversing into a bull market.
These are my ideas on BCH, please correct if i'm doing something wrong :)
1. We had a downtrend then we formed a rising wedge which means previous trend continuation.
2. The RSI divergence forming in the 1H confirms the upcoming downtrend.
3. The breakout drop will be the same as the wedge height in the beginning (and you can see that it matches perfectly that support line).
Tell me what do you think of this idea and what i'm...