BCH Bitcoin Cash, looking slightly exhausted

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BCH has outperformed BTC the last few weeks, now it's clearly waiting for BTC (just like most other coins) to see if it goes higher. It is in the making of a bearish flag, which suggest short term we could go lower. However, it did get above the previous support level of that big triangle (wich i shorted a month ago). So that is a sign of strengh. For now it's best to wait for a break out, if it drops below the flag going short would be the best trade. If BTC goes up than BCH will probably break out to the upside of this flag, than going long would be the best option. If was long on BCH from the lows (to be clear, i was not unfortunately :)), i would most certainly cash out now and wait for better prices again. The risks are to high now.

Nota

Next target according to this flag is around 1230

Nota

Just to easy sometimes :) I think it's flagging right now, no bounce yet, so probably towards the 10450 now

botje11

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