Update:
Bcash, Bitcoin Cash, etc. is consolidating against USD as well as BTC, with Bbands tightening and price approaching the end of a triangle on the 4 hour.
On the USD, price bounced off the 200 EMA previously in late november, as well as currently holding a bounce off the Kijun Sen in the past day or so. There was also just a bullish TK cross as well as price breaking into the cloud, and a bullish kumo twist.
Bitcoin Cash paints a far more bullish picture on the USD pair than the BTC pair - normally, I think that USD pairs are more important for top tier alts (Ethereum, Litecoin, etc.) however given the driving forces behind $BCH and the bitcoin community's view of BCH I think it's important to factor in the BTC pair as well, which I've included below. I'm hodlin for the moment, but may reduce my exposure slightly if the BCH/BTC pair breaks below trendline and fails to bounce.
Bull case:
- Consolidating
- Still sitting above trendline
- Break into the cloud w/ bullish TK cross
- BTC difficulty adjustment in 2 days (when Roger Ver decided to pump $BCH previously)
- Bullish Kumo twist (future cloud green)
- BCH add to Bitstamp tomorrow
Neutral:
- Bbands squeezing
Bear Case:
- BTC starting to look bullish again, which may push alts down again, even against USD.
- See BTC pair idea for more complete bear case.
Will update idea after break either up or down. You can find link to BCH/BTC idea below.
Bcash, Bitcoin Cash, etc. is consolidating against USD as well as BTC, with Bbands tightening and price approaching the end of a triangle on the 4 hour.
On the USD, price bounced off the 200 EMA previously in late november, as well as currently holding a bounce off the Kijun Sen in the past day or so. There was also just a bullish TK cross as well as price breaking into the cloud, and a bullish kumo twist.
Bitcoin Cash paints a far more bullish picture on the USD pair than the BTC pair - normally, I think that USD pairs are more important for top tier alts (Ethereum, Litecoin, etc.) however given the driving forces behind $BCH and the bitcoin community's view of BCH I think it's important to factor in the BTC pair as well, which I've included below. I'm hodlin for the moment, but may reduce my exposure slightly if the BCH/BTC pair breaks below trendline and fails to bounce.
Bull case:
- Consolidating
- Still sitting above trendline
- Break into the cloud w/ bullish TK cross
- BTC difficulty adjustment in 2 days (when Roger Ver decided to pump $BCH previously)
- Bullish Kumo twist (future cloud green)
- BCH add to Bitstamp tomorrow
Neutral:
- Bbands squeezing
Bear Case:
- BTC starting to look bullish again, which may push alts down again, even against USD.
- See BTC pair idea for more complete bear case.
Will update idea after break either up or down. You can find link to BCH/BTC idea below.
