Long-term Trend
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Bitcoin Cash is looking bullish in the long-term.
We have found support on the 0.786 Fibonacci retracement level.
This support line is very strong especially because it's on the border line of the small and big volume node, meaning trades were abundant above the support line but whenever it touched the support line it bounced back up or it needed a big volume to swiftly pass it.
We also have a huge ascending support line coming from last october.
Then we have a descending wedge which is often a bullish sign.
I believe we have a ABC correction wave within this wedge.
We've hit the top resistance line of the wedge three times, usually the breach occurs on the forth time.
This is BCH/BTC chart, so if Bitcoin goes up together, we'll see massive profits.
Good luck with your trading :)
We have found support on the 0.786 Fibonacci retracement level.
This support line is very strong especially because it's on the border line of the small and big volume node, meaning trades were abundant above the support line but whenever it touched the support line it bounced back up or it needed a big volume to swiftly pass it.
We also have a huge ascending support line coming from last october.
Then we have a descending wedge which is often a bullish sign.
I believe we have a ABC correction wave within this wedge.
We've hit the top resistance line of the wedge three times, usually the breach occurs on the forth time.
This is BCH/BTC chart, so if Bitcoin goes up together, we'll see massive profits.
Good luck with your trading :)
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