Long
BCH darkest hours
$BITFINEX:BCHUSD
This is how I see the next scenario playing for BCH. We have a harmonic pattern forming and basically the price will surge down to $1450 depicted by the AB=CD pattern in blue behind the bullish bat pattern I will be explaining next. Once it gets to that level I expect a bounce upwards depicted by the bullish bat formation on top of AB=CD towards $1720. To support this idea the MACD is negative and for now pointing down, if using Ichimoku system all the signs are pointing strong bearish still with the future cloud still bearish, one which is not so strong reason is RSI but has still some room till being oversold so there is room for lower price.
This is how I see the next scenario playing for BCH. We have a harmonic pattern forming and basically the price will surge down to $1450 depicted by the AB=CD pattern in blue behind the bullish bat pattern I will be explaining next. Once it gets to that level I expect a bounce upwards depicted by the bullish bat formation on top of AB=CD towards $1720. To support this idea the MACD is negative and for now pointing down, if using Ichimoku system all the signs are pointing strong bearish still with the future cloud still bearish, one which is not so strong reason is RSI but has still some room till being oversold so there is room for lower price.
Note
Cute little W, this coin is a monster.Trade closed: target reached
The $1450 target reached.
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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.