BCH had - as other altcoins - climbed up to higher prices (no ATH indeed).
With a lot of dynamic power it crossed the fib level at 61.8 (1845$).
The investors fought above this support line, which has been important whether BCH continues to rise or falls back.
They lost and the course broke the support (now resistance).
After this fight the BCH lost attention, Volume was falling.
Another try with much lower volume couldn´t install the price above the fib level.
We can now draw a triangle in a bullish pattern. This triangle is between two trendlines, that are widening (more volatility).
Scenario 1: BCH breaks out the triangle to the top, stays in trendchannel and climbs up to resistance line
Scenario 2: BCH hasn´t enough dynamic and continues sidewards or is even falling back to the long descending trend line, which is a first support
MACD: negative - but in very short time it is just turning (some hope here)
RSI: neutral
BB: lower band is turning upwards = positive, price still above median (correction still possible)
Stop: below the descending trendline
With a lot of dynamic power it crossed the fib level at 61.8 (1845$).
The investors fought above this support line, which has been important whether BCH continues to rise or falls back.
They lost and the course broke the support (now resistance).
After this fight the BCH lost attention, Volume was falling.
Another try with much lower volume couldn´t install the price above the fib level.
We can now draw a triangle in a bullish pattern. This triangle is between two trendlines, that are widening (more volatility).
Scenario 1: BCH breaks out the triangle to the top, stays in trendchannel and climbs up to resistance line
Scenario 2: BCH hasn´t enough dynamic and continues sidewards or is even falling back to the long descending trend line, which is a first support
MACD: negative - but in very short time it is just turning (some hope here)
RSI: neutral
BB: lower band is turning upwards = positive, price still above median (correction still possible)
Stop: below the descending trendline