Observations:
On the weekly chart, BCH has been performing well and has reached the main resistance.
If the candle stick open and closes above this resistance, then the trend is confirmed bullish. 21 EMA acting support.
On the daily chart, BCH has moved up while BTC has dropped. If BTC was to drop further, it will be unlikely BCH will continue in the upside.
On the 4 hourly chart, it has also reached the main resistance with RSI and stochastic RSI indicating its extended *above 70% and 80% with these indicators
Conclusion:
We need a min. of an open and close 4 hrly candle above this main resistance. Preferably on the daily candle to give the green light to enter (long)
4 HRLY Chart
Weekly Chart: 21 EMA acting support.
On the weekly chart, BCH has been performing well and has reached the main resistance.
If the candle stick open and closes above this resistance, then the trend is confirmed bullish. 21 EMA acting support.
On the daily chart, BCH has moved up while BTC has dropped. If BTC was to drop further, it will be unlikely BCH will continue in the upside.
On the 4 hourly chart, it has also reached the main resistance with RSI and stochastic RSI indicating its extended *above 70% and 80% with these indicators
Conclusion:
We need a min. of an open and close 4 hrly candle above this main resistance. Preferably on the daily candle to give the green light to enter (long)
4 HRLY Chart
Weekly Chart: 21 EMA acting support.
Comment:
For now, a big rejection...expected as BTC drops
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
