Money Flowing out of Bitcoin Cash
TECHNICALS:
A great example of an ugly chart.
Bitcoin Cash perpetually careening downhill on the 60 minute hourly chart.
200 day period average sloping down, price continuously making new lower lows and lower highs.
Momentum is pointing lower.
This is the definition of a downtrend.
This is not something we want to buy into.
It's something you want to stay away from until you see clear signs of a bottoming pattern and a support level.
Just good to point out what a bad chart looks like sometimes.
FUNDAMENTALS:
This downward trend shows us that money is FLOWING OUT of Bitcoin Cash and most likely into Bitcoin itself. That is a good sign again of strengthening momentum in Bitcoin itself.
A great example of an ugly chart.
Bitcoin Cash perpetually careening downhill on the 60 minute hourly chart.
200 day period average sloping down, price continuously making new lower lows and lower highs.
Momentum is pointing lower.
This is the definition of a downtrend.
This is not something we want to buy into.
It's something you want to stay away from until you see clear signs of a bottoming pattern and a support level.
Just good to point out what a bad chart looks like sometimes.
FUNDAMENTALS:
This downward trend shows us that money is FLOWING OUT of Bitcoin Cash and most likely into Bitcoin itself. That is a good sign again of strengthening momentum in Bitcoin itself.
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Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591