Bitcoin Cash about to pump or dump
Updated
Since April BCHABC has been in an ever-narrowing range, between the 100 Moving Average and a clear downward slopping trend line. Both touches on the 100MA since April have resulted in a quick bounce up and we are just about to make contact once again... definitely something worth keeping an eye on.
>>>If the pennant is to play out, target up or down will be around 60%. An excellent potential opportunity to increase BTC holdings.
Save crucial space on your Trading View chart by utilising my free to use indicator which overlays both the RSI and Stoch RSI in a clear and helpful fashion - link below.
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>>>If the pennant is to play out, target up or down will be around 60%. An excellent potential opportunity to increase BTC holdings.
Save crucial space on your Trading View chart by utilising my free to use indicator which overlays both the RSI and Stoch RSI in a clear and helpful fashion - link below.
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
Note
As predicted above, BCHABC has just made contact and bounced off the daily 100MA - let's see if support holds. It's worth noting the 15min, 30min, 2hr, 3hr, 4hr, daily and weekly Stoch RSI are all primed for a shift in momentum to the upside.Note
Up a modest 4% so far, but hitting key trendlines on multiple timeframes... until we leave the structure detailed above we must remain mindful that a break down remains equally possible.Note
Now close to 8% up - looking promising
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