BCH trying for Inverse Head & Shoulders
Hey guys, BCH, similar to EOS, is trying for an Inverse Head & Shoulders on the Hourly & 4H, while big brother BTC is going for the Bull Flag right now. The neckline is at 705-710 conservatively. We're exactly between 4H EMAs 12 & 26. => A bullish break could signal some uptrend potential.
=> But: Any break of that neckline has to see simultaneous break of big brother Bitcoin, otherwise it'll be a fake out!
In the direct correlation of BCH/BTC, we're at a very important support level at 0,108.
If we cannot break to the upside, we're looking at the Daily close line at 685: RSI has cooled enough for another leg down. So, if you wanna play bullish, never forget: We're still in highly bearish terrain, any possible plays have to be highly secured & conservative in order to protect your money.
If you had some value from my analysis, please like & subscribe so you don't miss it next time, and watch my daily videos! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
=> But: Any break of that neckline has to see simultaneous break of big brother Bitcoin, otherwise it'll be a fake out!
In the direct correlation of BCH/BTC, we're at a very important support level at 0,108.
If we cannot break to the upside, we're looking at the Daily close line at 685: RSI has cooled enough for another leg down. So, if you wanna play bullish, never forget: We're still in highly bearish terrain, any possible plays have to be highly secured & conservative in order to protect your money.
If you had some value from my analysis, please like & subscribe so you don't miss it next time, and watch my daily videos! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
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