Not Financial Advise!
BCH has several Bearish Reversal Signals on the 4h. I see a Head-and-Shoulders pattern forming with a confirmation at 700USD. Used just wicks for the pattern so maybe more unreliable.
The Volume is also declining to the right which would confirm the validity of the bearish-reversal.
This especially doesn't look too Bullish for me at least, but the prices are generally speaking on the bearish side of things so dunno could be the market sentiment....
Also Lines crossing on the MACD which signals bullish weakness to my amateur eyes.
*Insert Optimism*
Please prove me wrong! Arguments if possible.
Out of a bullish perspective I could hope we find Support at the 78,60% Fib-level, the blue line, but i think we tested that support already 2 times lets see if that was too often.
Peace!
BCH has several Bearish Reversal Signals on the 4h. I see a Head-and-Shoulders pattern forming with a confirmation at 700USD. Used just wicks for the pattern so maybe more unreliable.
The Volume is also declining to the right which would confirm the validity of the bearish-reversal.
This especially doesn't look too Bullish for me at least, but the prices are generally speaking on the bearish side of things so dunno could be the market sentiment....
Also Lines crossing on the MACD which signals bullish weakness to my amateur eyes.
*Insert Optimism*
Please prove me wrong! Arguments if possible.
Out of a bullish perspective I could hope we find Support at the 78,60% Fib-level, the blue line, but i think we tested that support already 2 times lets see if that was too often.
- If i would do anything then short it maybe somewhere around the 78,60% Fib-Level with 20-25% Stop-Loss just for the adrenalin rush.
- We have a confirmation of the longterm Head-And-Shoulders if it closes below 700USD, and shortterm the next important support is at around 1000-1100USD.
Peace!