Well Stephen007... secret agent license to kill... it really all hinges on the next move out of this wedge formation to retake the 200 and secure support. If the 50 can push through and hold above it we will move to higher ground. If not and turning the 200 upward here is still too soon then we will fall back beneath it and will move lower and sideways until the next attempt.
If traders get frustrated with the length of time it is taking they will begin to exit and this will cause a steeper move down and it will be much more difficult then to turn the 200 and potentially a sell off could occur. We need to start making continuous higher highs and higher lows now and if we can't, then the bears take control. See that was easy wasn't it... no hard feelings bro. Sorry I was messing with you...
And the reason I'm charting on BTC instead of BCH is because everyone... and I mean everyone is watching BTC right now... the king is in control, sorry not you lol... the other king.
If traders get frustrated with the length of time it is taking they will begin to exit and this will cause a steeper move down and it will be much more difficult then to turn the 200 and potentially a sell off could occur. We need to start making continuous higher highs and higher lows now and if we can't, then the bears take control. See that was easy wasn't it... no hard feelings bro. Sorry I was messing with you...
And the reason I'm charting on BTC instead of BCH is because everyone... and I mean everyone is watching BTC right now... the king is in control, sorry not you lol... the other king.
Note
notes if you open the chart below
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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.