Long
BCHABC - Is BCH ready to pump?! Check out this fractal
Looking at BCHABC's daily chart, I believe we have a very bullish set up. In fact, I'm surprised the price isn't higher as bullish as the MACD is. This very well could be an indication that the price will soon jump. The price action has broken out of a descending wedge and appears to be repeating a pattern it did in April. Not only does the price action match that of the fractal in April, but the MACD from April also matches today's position. I will have a buy order ready on the breakout because I think the price could really jump if it gets moving.
Note
Great setup, re-testing overhead resistance. A breakout from here should send the price flying. Watch for a breakout!
Note
This time 2 years ago, BCH was following a similar bullish pattern and mooned. Might history repeat? We'll see.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.