Is this reversal time ? BCH breaking out of a falling wedge /!\
Updated
A falling wedge, is a reversal pattern.
Since Nov 13th 2017, BCH has been on a descending trend vs. BTC.
If my reading of the chart is correct, I believe we are seeing a falling wedge breakout by the top.
This could lead us to the next resistance of a much wider triangle (hitting the top resistance on point (E) at 0.15 btc
This is very bullish for BCH, in USD terms this could mean going back to $1200 if we consider BTC at $8000.
If the breakout is rejected then we might go down a lot further - i'll publish another scenario on this if this is the case.
Twitter: twitter.com/Blockchain_rekt
Disclaimer: this is NOT financial advice. Be smart, invest wisely those are very volatile markets hence very risky.
Since Nov 13th 2017, BCH has been on a descending trend vs. BTC.
If my reading of the chart is correct, I believe we are seeing a falling wedge breakout by the top.
This could lead us to the next resistance of a much wider triangle (hitting the top resistance on point (E) at 0.15 btc
This is very bullish for BCH, in USD terms this could mean going back to $1200 if we consider BTC at $8000.
If the breakout is rejected then we might go down a lot further - i'll publish another scenario on this if this is the case.
Twitter: twitter.com/Blockchain_rekt
Disclaimer: this is NOT financial advice. Be smart, invest wisely those are very volatile markets hence very risky.
Trade closed: target reached
TARGET REACHED BABY!
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