Long
BCHUSD BITFINEX About to break downtrend channel
Here we have Bitcoin cash finally trying to leave the pink downtrend channel, we could see the end if the correction if it manages to leave the channel. We can see it already managed to break above 50 EMA in orange. We also have a bullish divergence in the RSI and MACD :D.
I have placed a fib extension to set targets, but remember we need to break the channel first in order to be back in a bull market.
If it doesn't manage to break the channel to the upside, we will head downwards and continue with in a bearish market.
I have placed a fib extension to set targets, but remember we need to break the channel first in order to be back in a bull market.
If it doesn't manage to break the channel to the upside, we will head downwards and continue with in a bearish market.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.