BITFINEX:BCHUSD   Bitcoin Cash / Dollar
BCH has had a push from fib retracement 78.6% up to above the fib retracement 100.
Volume has grown much - but not as much as november 09 to 12, when a lot of BTC-Traders pushed the price.

From the first beginning of the actual movement at 38.2% BCH has made 190%!

For the near future I expect some sidwards movement as shown in the graphic.

If the price of BCH climbs above this simulated channel then it would be a strong signal and it were to be expected that the price rises higher up to next fib retracement (161.8%), 4.344$.

If the price falls under the last fib retracement, which is now support, at 2768$ it could continue to fall deeper to fib retracement at 78.6% (actual medium of Bollinger Bands ).

MACD and RSI are positive, volume has been good in uprise phase and is weak in downside phase. = 3 positive signals
BCH is outside Bollinger bands!

Conclusion: I expect a sidewards movement for a few days.
Perdagangan aktif: Volatility is back to BCH! And so the price could leave the trend channel surprisingly.
Watch also movement in BTC, because a lot of movement is coming from there.

For the moment it is also probable that BCH falls back in trend channel as to continue.
Make your trade and stay aware.
Perdagangan aktif: BCH has clearly left the trend channel. new aim is next fib retracement!
Perdagangan aktif: after a short walk outside the trend channel BCH is back at home
long enough for short term trades
Perdagangan aktif: one move upstairs, another downstairs but now still in the trend channel.
Trend ist active.
Order dibatalkan: Due to the massive crash in cryptocurrencies all trades are stopped. I have taken all out of the market!
Look at the BTC chart.
My opinion is that the incoming BTW down wave, that will push BCH to again to the top.
Balas
Luettis Malkaviano
@Malkaviano, I too think that BTC traders out of china and corea cause the volatility in BCH. And I think that BTC is in a corrective pattern (A).
What is BTW?
Balas
Malkaviano Luettis
@Luettis,
mistake , BTW --> BTC,
BCT chart stronly corelates with BCH.
Each Elliot wave is bct/usd chart down will take bch to the roof.
Note that i can be wrong.
Balas
Luettis Malkaviano
@Malkaviano, I agree
Balas
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