Possible Bitcoin cash trade coming right up!
Cập nhật
Leaving my personal opinions of bcash at the door this looks like a possible trade forming up. First Fundamentals,
We all Know for the most part BCH and BTC tend to hedge eachother. After such an intense run last night it would make sense for it to take a breather before it honey badgers its way to 10k. Which would give Bcash a small upwards movement while BTC rewinds its energy.
Technical analyses. The one hour RSI is at the very bottom looking to bounce up.
Usually when there is a price reversal it will shoot thru both lines but must refind support on the 20 SMA(white line) to confirm upwards momentum. I circled an example of the last time it did this. It stll has room to drop on the 4 hour RSI and on the daily chart it hasent bounced off the 20 SMA. This is why We must wait for confirmation before entering this trade. If it fails to gather momentum right now then we will see it retest .16
Following trend lines it would put the target at .25 , Knowing big round numbers tend to be resistance we should play it safe and TP at .244
remember to wait for confirmation. Ill be keeping an eye out and posting updates. good luck.
*****FORGOT****** TO DRAW LOWER TREND LINE WHICH SHOWS SUPPORT AT CURRENT PRICE .169
We all Know for the most part BCH and BTC tend to hedge eachother. After such an intense run last night it would make sense for it to take a breather before it honey badgers its way to 10k. Which would give Bcash a small upwards movement while BTC rewinds its energy.
Technical analyses. The one hour RSI is at the very bottom looking to bounce up.
Usually when there is a price reversal it will shoot thru both lines but must refind support on the 20 SMA(white line) to confirm upwards momentum. I circled an example of the last time it did this. It stll has room to drop on the 4 hour RSI and on the daily chart it hasent bounced off the 20 SMA. This is why We must wait for confirmation before entering this trade. If it fails to gather momentum right now then we will see it retest .16
Following trend lines it would put the target at .25 , Knowing big round numbers tend to be resistance we should play it safe and TP at .244
remember to wait for confirmation. Ill be keeping an eye out and posting updates. good luck.
*****FORGOT****** TO DRAW LOWER TREND LINE WHICH SHOWS SUPPORT AT CURRENT PRICE .169
Ghi chú
Confirmation is shown better IN comparison to the dollar. Ghi chú
possible uptrend until .29, Sell part at .244 and hodl to see if it rallys to .298Ghi chú
Ghi chú
Posted wrong photo^^^^ Ghi chú
moment of truth coming up 
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.