As nearly all other altcoins, BCH has made a rollercoaster curve. Its correlation to BTC is nearly 1, which means that each movement of BTC is followed by the movement of BCH in the same direction - but with lower momentum.
The only case that BCH takes another direction than BTC is, when chinese and corean miners make their pump-and-dump game.
I expect BTC to fall (see analysis) and so will BCH do as well.
In this case BCH could fall until fib retracement at 38.2% (2.093$) or even to fib retracement at 23.6% (1618$) - which has been the support last time.
On the other hand, if BTC will regain force and BCH follows, then one can expect higher courses up to 3.407$ (fib retracement at 78.6%). Personally I see more risks downwards than chances upwards.
other indicators:
MACD : zero (neutral)
RSI: about 50 and falling (negative)
volume: shrinking (negative)
MA 12: not far away (neutral)
The only case that BCH takes another direction than BTC is, when chinese and corean miners make their pump-and-dump game.
I expect BTC to fall (see analysis) and so will BCH do as well.
In this case BCH could fall until fib retracement at 38.2% (2.093$) or even to fib retracement at 23.6% (1618$) - which has been the support last time.
On the other hand, if BTC will regain force and BCH follows, then one can expect higher courses up to 3.407$ (fib retracement at 78.6%). Personally I see more risks downwards than chances upwards.
other indicators:
MACD : zero (neutral)
RSI: about 50 and falling (negative)
volume: shrinking (negative)
MA 12: not far away (neutral)