BeCulda
教学

Channel example 2 - BCH/USD

BITFINEX:BCHUSD   比特币现金/美元
For more information read the 'Fake-breakouts-everywhere' idea below

We can see the channel is broken on the uptrend which creates an explosive breakout. What we need to remember is that Bitcoin             price movements affects everything and as a result when BTC/USD bounced off its resistance (upper channel wall seen in my first channel example - link below) the BCH/USD took a dip. Given the bear market we are in - this channel breakout, albeit explosive might be short lived.
Based on the history of BCH this is not explosive at all and a real yawn fest. But I am sure the down pressure of BTC is clipping the wings of BCH. All this upward trend in BCH tells me is that the momentum is shifting and that BTC is losing control over this coin - it's one major competitor. If BTC goes up then the real breakout momentum of BCH will show up again. In the meantime it's time to take a nap and wait for the action to start again in crypto. I think this is a very bad time to be trading and a much better time to be waiting.
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BeCulda astrologychick
@astrologychick, I'm with you on the momentum is shifting in favour of BCH but there is a long way to go. Also, why do you think it's a bad time to be trading - it seems to me that whether we are in a bullish or bearish market the swings which give you profit are given by the fundamentals and by increased volume, both of whom are plentiful
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