Bitcoin Cash traded a few points below the $ 1400 level. It formed a low level of $ 1,390 and is currently correcting higher.
It has moved over 23.6% Fib retracement level of the last big drop from $ 1,638 high to $ 1,390 low. However, BCH buyers face many obstacles on the upside close to $ 1,520 and $ 1,540.
More importantly, yesterdays highlighted a new bearish trend line with the current $ 1,520 resistance, active on the BCH / USD timetable. The couple is now well above the level of $ 1,450 and consolidates losses.
It tested almost 50% Fib retracement level of the last big drop from $ 1,638 high to $ 1,390 low. However, it appears that trend line resistance and $ 1,540 are important barriers to buyers on the upward.
Worth it to read.. Thank you for sharing...
My pleasure
lets hope it finds the support it needs at that level otherwise it could go down to the next level which looks about 850 from your chart. but for sure it definitely is going to rise very soon
Yes, matter of time.
thanks for sharing. It's really sad and bad. i think bitcoin will be down more.
Might be, but for some short time.
i wish it goes this way for short time.
have a different idea. If you visit my blog, you can see my thoughts.
Phew! I hope there is something good awaiting the future of Bitcoin and its family. Nice update bro! Keep them coming..
very good work, it was worth translating to read it
Good post @tradewonk, please help me
Still expecting Bitcoin to fall to $8,000 -$7,500 this would be my ideal target. Trend line drawn from July 17, 2017, tested on September 15.2017, and now I'm waiting for a confirmation of the trend line which would be a bounce in the highlighted zone. Haha i've been waiting for weeks for this happens, Bitcoin at a huge discount!!!! Great Analysis i use the same the EMA's and recently switched to trading price action with Stochastic RSI for momentum confirmation. You got my follow! :D
Why does these drop in value occurs......
Look at the chart. It's dropped too much.
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Thanks
gran posts muy buen análisis departe de ti.
you use too big of a time frame to make such an assumption on crypto yet, lots of people will burn their hands with this kind of tech analysis, look how it didn't even test the 50% line on the way down, it just fell through like a hot knife through butter
right now its 1264$ on coinbase! Gave my brother 100$ of bitcoin cash for xmas its probly worth 50$ now, at least he knows to hodl!!
Great post..!!
Stay strong, don't panic:
https://steemit.com/cryptocurrency/@priyathamreddy/must-see-post-for-all-cryprocurrency-investors-right-now-black-friday-of-cryptocurrency