BCHUSD remain slow but growing
Updated
This is an update to my previous idea:
a. BCH has broken down the trend line.
b. It is trading between the scenarios 1 & 2.
c. After a bearish gartley formation, price has retraced to .618 level ($1800). Together with the former resistance (1780), this makes for a relatively safe starting point to look for possible gains.
d. MFI suggests severe oversold condition. Some technical rebound is imminent. The strength of this rebound is likely to be low.
However, selling pressure is high on this one.
a. BCH has broken down the trend line.
b. It is trading between the scenarios 1 & 2.
c. After a bearish gartley formation, price has retraced to .618 level ($1800). Together with the former resistance (1780), this makes for a relatively safe starting point to look for possible gains.
d. MFI suggests severe oversold condition. Some technical rebound is imminent. The strength of this rebound is likely to be low.
However, selling pressure is high on this one.
Note
BCH may have fallen out of an ascending wedge on the 1m chart moments ago. I closed my long position but still hold my coins. If it starts to retrace, I think $2140 is where consolidation can be had.
Or if I'm wrong at least we're holding :)
Note
Another BTC dump :DLast night did hold at $2140 circa & jumped, but bch suffered from the btc dump. I think once the coast is clear further gains can be expected. $2700 in one go (but need to wait till the dump is over).
Don't sell your holdings now
Note
Wonderful, we really got to $2700 quickly.Now, I think after some consolidation $4000 is possible this year. Why? that'd be 0.2 BTC, which is where BCH had always been before the BTC jump last month.
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