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Luettis
15 déc. 2017 08:34

BCH caution! 

Description

BCH had - as other altcoins - climbed up to higher prices (no ATH indeed).
With a lot of dynamic power it crossed the fib level at 61.8 (1845$).

The investors fought above this support line, which has been important whether BCH continues to rise or falls back.
They lost and the course broke the support (now resistance).

After this fight the BCH lost attention, Volume was falling.
Another try with much lower volume couldn´t install the price above the fib level.

We can now draw a triangle in a bullish pattern. This triangle is between two trendlines, that are widening (more volatility).

Scenario 1: BCH breaks out the triangle to the top, stays in trendchannel and climbs up to resistance line
Scenario 2: BCH hasn´t enough dynamic and continues sidewards or is even falling back to the long descending trend line, which is a first support

MACD: negative - but in very short time it is just turning (some hope here)
RSI: neutral
BB: lower band is turning upwards = positive, price still above median (correction still possible)

Stop: below the descending trendline
Commentaires
StuddMuffin
This has more to do with recent BTC pumps than any BCH fundamentals. BCH could have masssive volume and well on its way to a new high, but if everyone see BTC pumping then they are going to jump ship.
Luettis
@studMuffin, Sure there has been a lot of attention to BTC due to the possibility to buy futures at CBOE, quite soon at CME and even EUREX is thinking of it. I´ve read that some Hedgefondsmanager are interested in investing in BTC via Future. BUT - the futures have an underlay in Dollar - not in BTC. So, even if they buy futures on BTC that wouldn´t have a direct impact on the price of BTC.
astrologychick
@studMuffin, Tether makes BTC pump. But it's not real money.
Doc-al-Citadel
with this coin probably scenario 2 ;-)
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