BCH - Bouncing off all-time low, ABC is ready to dust SV
Updated
Looking at the daily chart for BCHABC, I see a lot of things I like. We have a bullish cross on the daily MACD as it rounds off key support. The two previous times BCH touched this support,the price took off to all-time highs. But take that with a grain of salt as it's important to remember those pumps occurred in a bull market and this is a bear market. The RSI, however, is very low at 21 and was as low as 16! And for the daily RSI no less. Now that Bitcoin is showing signs of reversal/recovery, the alts are also recovering. I think there's a lot of room up if this is a short-term bottom for BCH. My initial target is resistance at .06. If we get some serious volume maybe we touch higher. Either way, it will put some serious distance between ABC and SV as it should be.
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A look at the 1hr time frame...
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