Short
Bitcoin Cash (short term) outlook
Updated
Over the 1 hour chart what I am seeing is that the trend so far is losing momentum and is correcting. The lines in red are the intermediate trend lines. It's showing a head and shoulder's ish formation and since it didn't go back to the top of the gann lines and broke below the red support, it will very likely, at minumum, correct to the 3/1 line if not further. Not making a call if the entire rally will collapse or not (at least not yet), this is short term.
Note
Just to clarify, the trend will slow down and (MAYBE) reverse because it didn't go up to the 1/1 gann line, and we need to see how it reacts to the 3/1 line, and the fib prices at $555 and $590 to see where it goes next.Note
I have re-evaluated my position, check my other ideas.
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