After meeting an old trendline- breaking it - and then a rejection BCH is almost ready to dive. A breakout below 0,02987 (day-low) would be a confirmation. On the downside there is much potential. Around the fib38 we could meet another old trendline who could give us the perfect exit and re-entry around 0,02961. If we have patience (longs will pay us funding from...
Bulls have made some effort to gain terrain but the trend is still bearish.
The past days we saw a strong rejection of the 55ema and the trendline. If bulls have an intention to seek higher ground their time is limited. Once we break down the upwards trendline there is a cluster of fibs and two trendlines of resistance. It will need brute force to overcome this. I...
Last couple of days we see a rejection of the 21ema. Combined with low volumes make me realise that bulls are no longer on the run but bears could take a break and we might see a relative wide trading range. 7250-7285 will be a though resistance and on the up side the ema-bots will place there bets. On the long run I believe in a test of 6350-6370 a double fib...
There are some remarkable fibs to draw on the daily. I think we might see 6400 in the coming weeks. I don't see any bullish sign on this chart at the moment. If the bulls want to bring it back on track to 10K they should come in hard and loud and soon !! As lang as I don't see them come in hard I am a bear and aiming on the target zone.
A run to 9335 would be the...
