BCH has fallen down from its ATH in dec 2017 to a new minimum at 768$ on feb 06. From this point ti climbed only up to the descending line - coming from the ATH.
BCH didn´t manage to break through this resistance and has now arrived the peak of the triangle.
Will it break up or down?
Watching the other signals (RSI weakening, MACD neutral but trigger line below signal line, Volume very low) a break up isn´t very likely to happen.
I expect the price to fall on to the lower limit of the triangle, the fib retracement 23.6%, which is also a strong support since nov 2017.
If this support won´t halt the downfall the next support could be 1.056$ (a swing trend line but weak). After this support there is much space so I would place my stop here.
If BCH could rebound from the actual support and breaks the triangle to the top, the next aim is the swing trend line at 1.536$, which has been tested several times.
BCH didn´t manage to break through this resistance and has now arrived the peak of the triangle.
Will it break up or down?
Watching the other signals (RSI weakening, MACD neutral but trigger line below signal line, Volume very low) a break up isn´t very likely to happen.
I expect the price to fall on to the lower limit of the triangle, the fib retracement 23.6%, which is also a strong support since nov 2017.
If this support won´t halt the downfall the next support could be 1.056$ (a swing trend line but weak). After this support there is much space so I would place my stop here.
If BCH could rebound from the actual support and breaks the triangle to the top, the next aim is the swing trend line at 1.536$, which has been tested several times.