BCH/USD - Time to decide: Pump to $1,000 or death under $400!
BCH is approaching a decision time. We are in this symmetrical triangle which is normally a continuation pattern (bullish in this case). For this to confirm, we need to break-up and move above $620. This would confirm BCH is ready to pump and aim for $1,000.
If we fail to do so, we break-down and pierce the parabola in yellow and we fall towards $400... then we're turning quite bearish... but for now that is unlikely.
The daily indicators are not very clear and rather flat. Volume has been low in the past two weeks. So we really need to see how this pattern resolves to get clarity.
On 4h the indicators are bullish, so I am bullish on this formation which will be confirmed once we break out of this triangle.
We really need to break-up here, otherwise we will turn quite bearish on larger timeframes such as 3d and weekly.
We should find out where we go around this coming weekend.
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If we fail to do so, we break-down and pierce the parabola in yellow and we fall towards $400... then we're turning quite bearish... but for now that is unlikely.
The daily indicators are not very clear and rather flat. Volume has been low in the past two weeks. So we really need to see how this pattern resolves to get clarity.
On 4h the indicators are bullish, so I am bullish on this formation which will be confirmed once we break out of this triangle.
We really need to break-up here, otherwise we will turn quite bearish on larger timeframes such as 3d and weekly.
We should find out where we go around this coming weekend.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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