✴️ Alert! Bitcoin Cash Likely Starting Major CorrectionThis is a friendly, and hopefully timely, reminder to all my readers, followers and supporters — Bitcoin Cash is about to crash.
Well, not crash but we are going to see a drop and this is likely headed toward MA200... Please join me while I read this chart.
What do we have here?
We are looking at the daily timeframe.
Based on candlestick reading we can spot several signals right away. We have a shooting star, or close to one, on the 5th of April.
We have multiple red sessions and today's candle is ultra-bearish.
MA200 is sitting right now at 295 and this would be the main target mid-term.
Remember that it can take months to hit the support target, months of accumulation, months of recovery and then some more before the same high prices before the correction show up again. It can take anywhere between 2-3 weeks to 4-8 months... It varies depending on the pair and market.
This is a new move and it needs time to develop.
Altcoins: Many can grow while others retrace.
Each chart/pair needs to be considered separately.
We are entering a market phase with lots of variations when it comes to the charts and price action. The reason for this is the market success, as it grows, many projects detach from the herd and start to produce their own cycles. New categories are created as well as new trading vehicles and this changes the whole dynamic. This is good, colorful and varied is good.
Prepare for the drop.
This is just a friendly reminder.
Remember to do your own research and planning.
This is not financial advice.
Namaste.
