BerlinTrader591

Bitcoin Cash, When will THIS MONSTER break?

BITFINEX:BCHUSD   比特币现金/美元
Amazing chart here on the BCHUSD             Bitcoin Cash             60 minute

IF this thing breaks, it's going to BREAK BIG.

After that incredible run on 17, 18, 19 August, we've consolidated in this descending triangle pattern.

It's a bullish continuation pattern that should resolve itself in the direction of the trend: UP

But right now, it really could break either way. We don't see any overwhelming signs of strength or weakness.

BEARISH: Price breaks support at 580. We have tested that level several times. If we break support, then it's a crash down to 480 or 400 (former support levels)

BULLISH: We see the price bending up and finally breaking out of this triangle formation. Breaking 630 or so would be a good sign.

So right now, I wouldn't go long or short Bitcoin Cash             BCHUSD             because it's just a coin-flip 50/50 shot.

But I will keep you posted when I see some Bullish developments.

AGain, if this MONSTER breaks, it's going to BREAK BIG. I do not want to miss this one to the upside. We saw how crazy it blew up last time. It has exposure and the volume can come in to really make this thing rock and roll..

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MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
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@BerlinTrader591
my gosh, i can't stand this consolidation !!!!
+1 回复
I think it might consolidate for a while, just like dash or monero did for months while bitcoin and eth were rallying. When btc and eth pulled back, then dash and monero and xrp rallied. You see how that works? It's a round Robin game. The stocks that have ran up the most will spend a few months consolidating and the coins which have sat sideways for months then all of a sudden rally like 50 percent within a matter of a couple of days. So I wouldn't be surprised to see bch consolidate for months in the 500 range which will then be pent up energy to spring to new highs.
+1 回复
There is some movement . It went from 584 usd to 625 . Should we buy if it reaches 630 ?
回复
sbb532 MarRob
@MarRob, Same Wuestion here:) It seems can not hold over 630's and volume in dead now..Not a good sign i presume:(
+1 回复
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