BCH 4hr 5/13/19: BCH on Fire.
Again, Golden cross gave the perfect signal for the start of our recent bull run. Currently we have very large trading ranges. Holding 383 keeps me bullish; coming down to 363 makes me cautious; testing 340 makes me nervous. All of our moving averages are quite a way away but this should be expected after a run. RSI is 74 which is oversold but still quite reasonable considering we have gone as high as 94. MacD shows some uncertainty if we will keep running or not. Currently, we have another very bullish chart.
A few things stand out here that add to our mid term bullish outlook. We now have formed a new bullish uptrend line. We held our previous uptrend line starting BEFORE April perfectly. And of course, we broke through the top of our bull flag with notable volume and conviction.
I expect 400 psychological resistance will hold us up a little. We might come back down to 383 and/or test 363 but hopefully we will hold there and continue up
A few things stand out here that add to our mid term bullish outlook. We now have formed a new bullish uptrend line. We held our previous uptrend line starting BEFORE April perfectly. And of course, we broke through the top of our bull flag with notable volume and conviction.
I expect 400 psychological resistance will hold us up a little. We might come back down to 383 and/or test 363 but hopefully we will hold there and continue up
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