I bought some BCH today, when I saw this bullish pattern.
BCH had a big breakout above the downtrend yesterday which could be a wave 1.
Now it retested this trendline and jumped back up again. This could be very bullish if the current high of 398$ will be breached in the next few days.
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DISCLAIMER: I provide trading ideas using EW and Pattern analysis. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas are. The author of this post is holding positions in this market at the time of this post.
If you make any trades after reading this post it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Tell me what you think...
Have a nice day :-)
how confident are you? Could be a false break out and the downtrend
I bought 320 and I will be out @ 278 if it fails. I would give this a chance of 66%. If there is no new low, see it as confirmation of this count.
Thank you for sharing information my friend @ew-and-patterns
Hi @ew-and-patterns, What are your thoughts on BCH ? To me the lows are ascending but, I'm not sure how BCH is gonna play after the fork.
Regards.
Hi @ignasi, I think it is not looking very bullish at the moment. I expect another drop before the next try to end the downtrend...
The fork is not relevant for my considerations, because I don't believe in news. I have seen it often enough that a specific news arrives to justify the movement...
Regards.