Hello and welcome to my BCH update. Today we are using the 4 hourly chart, With the Linear Regression projection.
As you can see the end of the LinReg is around 11th - 16th December with a price target of $594-$662 which funny enough is in between 361.80-423.6% Fibonacci
Where we are today: If we switch to the daily time frame, we can see that the price has been above the Linear Regression which is in a downward direction. This is a fabulous indication that the direction has switch from bearish to bullish. Expect a short term drop to 61.8 or 50% Fibonacci.
As you can see the end of the LinReg is around 11th - 16th December with a price target of $594-$662 which funny enough is in between 361.80-423.6% Fibonacci
Where we are today: If we switch to the daily time frame, we can see that the price has been above the Linear Regression which is in a downward direction. This is a fabulous indication that the direction has switch from bearish to bullish. Expect a short term drop to 61.8 or 50% Fibonacci.
Trade active
I removed a sell order @ $310 as we will move higher and test the 200 daily moving average
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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.