Bitcoin CashAlış
BCH – an interesting setup
Looking at the recent interest in BCH and the short-term strength being displayed in BTC, I notice there is the potential for BCH to continue to out-perform BTC in the next move.
In this chart we see what appears to be a wave 4 correction and a bullish pennant that looks to be breaking to the upside. All this is occurring above the weekly pivot point with the next level of resistance around $390, just above the 1.618 projection of the wave 4 correction.
Could this portend a 38% gain?
It’s a possibility, as long as BTC continues to show some strength. But will that exhaust the recovery rally? A lower high in the RSI and MACD on this move could manifest a strong bearish divergence so we will have to wait and closely watch how things play out.
In the short-term, however, it looks like a burst higher might be on the cards.
In this chart we see what appears to be a wave 4 correction and a bullish pennant that looks to be breaking to the upside. All this is occurring above the weekly pivot point with the next level of resistance around $390, just above the 1.618 projection of the wave 4 correction.
Could this portend a 38% gain?
It’s a possibility, as long as BTC continues to show some strength. But will that exhaust the recovery rally? A lower high in the RSI and MACD on this move could manifest a strong bearish divergence so we will have to wait and closely watch how things play out.
In the short-term, however, it looks like a burst higher might be on the cards.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.