BCHBTC trade ideas
recent SOS in backgroundwith recent SOS in background and price action moving in a trading range established by 2 main trigger lines (yellow at top and bottom) where have buying and selling pressure.
potential up movement to test recent trigger levels while price above base price marked as blue on chart.
Bcash, the trash, is either a good buy or goodbye...Hello everyone!
So BCH hit the 0.618 FIB which happened to be the 2nd of the 3 support zones. It also hit the broken resistance line which turned into support.
Now BCH has slow blocks, which makes it a lot easier to pump (it means users can't really deposit coins into exchanges to sell them, so the already restricted supply, gets more restricted). Miners sold their coins and are probably accumulating to pump it again. If the support breaks, next stop at 0.12.
Also, the RSI hit oversold and bounced of its trendline, which is slightly bullish sign, even though it is trending down.
BCHBTC- Uncertainity prevailsBCH is in noman's land. Price has found a retracment level and consolidated. Above the resistance line and a candle close above this will prove that the Bulls have won. Price may retest support and a 50% fib before heading higher to the target overlapping extensions 127% & 161.8 of the 1st corrective wave and the overall swing.