BITSTAMP:BCHUSD   Bitcoin Cash / Dollar
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Bitcoin Cash seems to be completing its consolidation around $2400. In the coming days it will retest the $4400 resistance. I do not feel it has the support to break it since BTC is about two weeks from completing consolidation (see last chart), so i do not see enough buyers leaving BTC positions. Sell between $4000 and $4400.
I’m seeing a descending triangle here, which would imply the opposite– that the price may break down. I could be completely wrong, but I just can’t see this hitting $4,000+ in the short term. At least I’ll heed part of your advice and sell at $4,000. Can’t wait to get rid of my BCH. Maybe I’m a fool?
@TheGush, to me I used the trend lines for the long term consolidation aspect. This was a tough one with not a lot of historical data I go on. The macd I didnt include looks bullish, but there are bearish signs to. I was on the border in terms of calls and even posting this. I made my final decision off of new entries and the fact that I think cash is a better coin that core. I don’t think it’ll drop below the 1750 support if it does. I could be wrong and you could be the right one!! Like I said tough call on this one, a lot of it was gut call when deciding.
+1 Balas
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