BCH nailed perfectly! TV's most correct analyst does it again!
So as you can see, BCH did exactly what I said it would in my last (privately published) analysis for loyal followers and website members only. BCH bounced off the Ichimoku Cloud and went up to the golden ratio fib level at 1.618 which was my target of $716.00 and from there BCH has dropped significantly.
As per usual, my target is hit and within a few days you can rebuy back in after a huge price drop. This is similar to most analysis I do where the top is hit and a retrace happens.
So BCH hit the target I indicated and then dropped when it hit the golden ratio of 1.618 where the RSI peaked over 70. As per usual on BCH when it hits this RSI level you sell or short as RSI will drop to 30. Last time though, the lime green trendline on RSI stopped the RSI getting to 30.
Will it do it again or will we see BCH drop further and the RSI hit 30 like it has done so every single time except the last time as explained about in my last analysis below on BCH?
If BCH breaks the RSI lime green trendline it will hit the 30 RSI level. BCH will then retouch the Ichimoku Cloud on the chart @ around $450.00 on it's way to the RSI 30 level.
From there we re-evaluate the trend in the market and see if it will bounce off these levels or continue further down to the orange horizontal line @ around $360.00 which is where the MA 144 would roughly be also (the white zigzag moving average on the chart). The purple moving average line on the chart is the break point for a bounce or a drop to $360.00
If BCH can bounce off this lime green trendline on the chart and RSI, BCH's next upside target would be $950.00
What are your thoughts on where BCH is heading?
Happy trading legends!
HTBB
Take a look at my other charts and analysis below to see my unbelievable correct analysis record. If this kind of analysis interests you and you want more than just 1 or 2 correct chart analyses every month or so, check out my website and become a member. I use a discord channel as a trading room that I post analysis in as I see it when it happens. For instance, this trade last night I saw as it was happening: Buy LTC, sell at orange line. Rebuy once bounce down off orange line.
As per usual, my target is hit and within a few days you can rebuy back in after a huge price drop. This is similar to most analysis I do where the top is hit and a retrace happens.
So BCH hit the target I indicated and then dropped when it hit the golden ratio of 1.618 where the RSI peaked over 70. As per usual on BCH when it hits this RSI level you sell or short as RSI will drop to 30. Last time though, the lime green trendline on RSI stopped the RSI getting to 30.
Will it do it again or will we see BCH drop further and the RSI hit 30 like it has done so every single time except the last time as explained about in my last analysis below on BCH?
If BCH breaks the RSI lime green trendline it will hit the 30 RSI level. BCH will then retouch the Ichimoku Cloud on the chart @ around $450.00 on it's way to the RSI 30 level.
From there we re-evaluate the trend in the market and see if it will bounce off these levels or continue further down to the orange horizontal line @ around $360.00 which is where the MA 144 would roughly be also (the white zigzag moving average on the chart). The purple moving average line on the chart is the break point for a bounce or a drop to $360.00
If BCH can bounce off this lime green trendline on the chart and RSI, BCH's next upside target would be $950.00
What are your thoughts on where BCH is heading?
Happy trading legends!
HTBB
Take a look at my other charts and analysis below to see my unbelievable correct analysis record. If this kind of analysis interests you and you want more than just 1 or 2 correct chart analyses every month or so, check out my website and become a member. I use a discord channel as a trading room that I post analysis in as I see it when it happens. For instance, this trade last night I saw as it was happening: Buy LTC, sell at orange line. Rebuy once bounce down off orange line.
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