BCH - WHICH DIRECTION IS NEXT

Hey Everyone,

BCH like many coins right now is in this kind of LIMBO LAND.... with no clear direction up down and the possibility of moving sideways forever.

Looking at the 1 hour chart I believe if the waves cannot break above the EMA, we are headed lower to retest the ALL TIME SUPPORT line.

If this breaks there is not a lot of support until around the $600 mark and if we fall below this price point we head into an extended WXYXZ pattern like we are seeing in other coins.

While there is lots of arrows on the chart right now, the sentiment is still very bearish and we will more than likely retest lower.

So for now... Safe and happy trading!

REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION
(minimise your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!

<3 Lisa

DISCLAIMER:

The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...

PS make sure you give me a like, that way you get updates as I post them.... :) <3

Comentário:

6hr Chart to show bounce off All time support

Comentário:

The current wave could still be Wave 2 of a larger 5 wave pattern as we are yet to break below the $600 start of wave 1

Comentário:

I have 2 possible scenarios right now for BCH
1st one is we are currently in wave 4, in which case BCH will turn lower at $860

2nd scenario is all corrective waves are complete and this is an impulse wave

we will not know if this is the case, until we correct to the wave 4 pivot and possibly climb higher

Comentário:

Depending if we break up or down... we are on the pivot, and about to find out which direction BCH is headed in the next week or so :)