It regained quickly but stopped at fibb level 61.8% (1.240$). This is the new resistance line.
When measuring the former bounds (marked with 1 and 2) I recognized that each was about 120% up to 200% and lasted between 15 to 63 bars (4h). This is a wide range.
After the rush and the discussion if Bitcoin Cash is the real Bitcoin or not it stayed well below the resistance and I think it`ll continue for a while.
Each breakout through the resistance indicates the end of this sideways trend.
If no negative news occur then I expect BCH to rise up as mentioned in the graph (blue triangle). The scaling problems of bitcoin are not solved and so we have today still the same good arguments for bitcoin cash .
And, as I´ve read, the lightning-network did a test and it worked. What could perhaps solve the problem for bitcoins could also undermine the confiance in the bitcoin-blockchain.
Bitcoin Cash does not have these problems.
Is this the moment we were waiting for?
MACD, RSI coming back, Volume is shrinking.
Be patient and wait ONE 4h-candle. If it stays above the support then we´ve got good chances that the rallye starts at this moment.
Otherwise: wait and see.