BCH - trade triangle formation
Updated
Hey, this is my first publication - I'm still trying to get the hang of this. Feedback is much appreciated, happy holidays!
I've picked up some BCH during the big dip we had a few days ago and ever since, it seems we're moving within the triangle, trade volume is particularly low. My gut says this is due to holiday season and we might struggle to get BCH to take off until January. Our biggest hold back right now is
BTCUSD and the FUD around it.
Side note: I believe cryptocurrency market requires a new king within the next few months, otherwise we're going to see a rough market this year due to mainstream media completely butchering the market perception. Basically the longer it takes us to recover from the dip, the worse beating we'll take and the trends will continue to move sideways/flat.
I've picked up some BCH during the big dip we had a few days ago and ever since, it seems we're moving within the triangle, trade volume is particularly low. My gut says this is due to holiday season and we might struggle to get BCH to take off until January. Our biggest hold back right now is
BTCUSD and the FUD around it. Side note: I believe cryptocurrency market requires a new king within the next few months, otherwise we're going to see a rough market this year due to mainstream media completely butchering the market perception. Basically the longer it takes us to recover from the dip, the worse beating we'll take and the trends will continue to move sideways/flat.
Note
We're breaking the triangle downwards. Stay tuned for updatesNote
I believe if we manage to break the 3000 level, we will be on our way to ~4200 and then a correction will be in the works.Note
It seems to be just holding a midpoint of ~2800. if we break 3k, we're in the works.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.