BITCOIN CASH (BCH/USD) - Keep an Eye on $350!
Bitcoin Cash came down pretty sharply and this formation on the top is an Evening Star formation. It will be an indication that we will see lower prices.
Currently, it is in the support area which can produce some bounces but in general, it would be a bit risky because of the current market situation.
At the moment, a high probability bounce area stays around $350.
Around the mentioned area has been pretty strong and powerful candles, which will be signs - if the price starting to approach it then we will see another bounce.
The criteria are:
1. Fibonacci retracement 38%
2. Fibonacci retracement 62%
3. Previously worked support and resistance level becomes now support.
4. Subjective curve trendline should stay around that area.
5. EMA100&200 acts as supporters.
Keep an eye on the blue box!
Do your own research and if this matching with mine then you are ready to go!
Please, take a second and support my idea post by hitting the "LIKE" button, it is my only fee from You!
Best regards,
Vaido
Currently, it is in the support area which can produce some bounces but in general, it would be a bit risky because of the current market situation.
At the moment, a high probability bounce area stays around $350.
Around the mentioned area has been pretty strong and powerful candles, which will be signs - if the price starting to approach it then we will see another bounce.
The criteria are:
1. Fibonacci retracement 38%
2. Fibonacci retracement 62%
3. Previously worked support and resistance level becomes now support.
4. Subjective curve trendline should stay around that area.
5. EMA100&200 acts as supporters.
Keep an eye on the blue box!
Do your own research and if this matching with mine then you are ready to go!
Please, take a second and support my idea post by hitting the "LIKE" button, it is my only fee from You!
Best regards,
Vaido
