BCH 2 possible outcomes - Overheating or Pacing
Updated
BCH has been pushing the red line and really accelerating its gains the past week. If we don't see these gains start to slow down, we could see a backflip with a banana like curvature signalling that we're going to stall like a plane that just didn't have the juice. BCH could be mooning soon, but if it does it too soon, it's going to face a major correction.
If we follow my yellow lines, we have a more sustained growth without turning our hammers into grave stones.
If we follow the red lines, we are certain to banana curve and then backflip and we'll need to get a substantial BTFD backing in order to prevent a retrace to 900 or even BART back down even lower.
RVI (+) is nearing a high for the week, and if it doesn't retrace to the sweet spot and start a new slow ascent, we're in trouble. Volume has been great this week, but if it trails, we could see sub optimal RVI and VI(+).
If we follow my yellow lines, we have a more sustained growth without turning our hammers into grave stones.
If we follow the red lines, we are certain to banana curve and then backflip and we'll need to get a substantial BTFD backing in order to prevent a retrace to 900 or even BART back down even lower.
RVI (+) is nearing a high for the week, and if it doesn't retrace to the sweet spot and start a new slow ascent, we're in trouble. Volume has been great this week, but if it trails, we could see sub optimal RVI and VI(+).
Note
Again, not a prof. adviser, just a hobby. Trade at own risk.
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