I did not pay attention on 
BCH until today..
After a release from AntPool about burning tx fee to blackhole address, I looked into its chart. This is clearly a confirmed reversal, a long term reversal of $BCH. The reason is, there's Cup & Handle breakout at the bottom of downtrend. According to Investopedia, C&H at the bottom is a sign of reversal. I heard some people believe C&H only happens during bull trend. But, I believe it's also a reversal if happens in a bear-trend.
In addition to C&H, we can see clearly that bulls are managed to break long term down trend and then breakout S/R. we have three confluences here.
But.. I don't have any position yet and not going to chase the candle from here. RSI looks extremely over-bought. Here I'm looking for pullback at 894 - 1063 area. I think that is where it should retrace and hold the support. With more decent RR, I'll jump onto the train.
Target? As I said, it's a long term reversal. So, we don't have a specific target, we should expect a new bull run from here.
Let's see next few days
BCH until today..After a release from AntPool about burning tx fee to blackhole address, I looked into its chart. This is clearly a confirmed reversal, a long term reversal of $BCH. The reason is, there's Cup & Handle breakout at the bottom of downtrend. According to Investopedia, C&H at the bottom is a sign of reversal. I heard some people believe C&H only happens during bull trend. But, I believe it's also a reversal if happens in a bear-trend.
In addition to C&H, we can see clearly that bulls are managed to break long term down trend and then breakout S/R. we have three confluences here.
But.. I don't have any position yet and not going to chase the candle from here. RSI looks extremely over-bought. Here I'm looking for pullback at 894 - 1063 area. I think that is where it should retrace and hold the support. With more decent RR, I'll jump onto the train.
Target? As I said, it's a long term reversal. So, we don't have a specific target, we should expect a new bull run from here.
Let's see next few days
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.