BCHUSD finds consolidation in the lower 1000's MACD + RSI sloping down since breakout correction - bulls stength weakening!
BULL scenario (less likely): Technical bull pennant would send us to the 127% fib target / 3400 Unlikely scenario of ~20/80 in the current crypto market, where #BTC shows strength + alts on distribution with bull tendency
BEAR targets: - 1000 (psychological) - 905 fib 23% - 740 recent uptrend support (weak) - 630 before breakout consolidation (weak) - 500 summer long term trend (ultimate target)
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BEAR direction - Target 1 - 1000 touch
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Two times support bounce - exactly on the last ATH of Aug-19 at 995
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On the hourly (H)
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BEAR direction - Target 2 - fib 23% close on
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Sqeezing out further at the same levels as -1 week (Play>). Targets remain valid.