BCHUSD finds consolidation in the lower 1000's
MACD + RSI sloping down since breakout correction - bulls stength weakening!
BULL scenario (less likely):
Technical bull pennant would send us to the 127% fib target / 3400
Unlikely scenario of ~20/80 in the current crypto market, where #BTC shows strength + alts on distribution with bull tendency
BEAR targets:
- 1000 (psychological)
- 905 fib 23%
- 740 recent uptrend support (weak)
- 630 before breakout consolidation (weak)
- 500 summer long term trend (ultimate target)
MACD + RSI sloping down since breakout correction - bulls stength weakening!
BULL scenario (less likely):
Technical bull pennant would send us to the 127% fib target / 3400
Unlikely scenario of ~20/80 in the current crypto market, where #BTC shows strength + alts on distribution with bull tendency
BEAR targets:
- 1000 (psychological)
- 905 fib 23%
- 740 recent uptrend support (weak)
- 630 before breakout consolidation (weak)
- 500 summer long term trend (ultimate target)
Trade active:
BEAR direction - Target 1 - 1000 touch
Trade active:
Two times support bounce - exactly on the last ATH of Aug-19 at 995
Comment:
On the hourly (H)
Trade active:
BEAR direction - Target 2 - fib 23% close on
Trade active:
Sqeezing out further at the same levels as -1 week (Play>). Targets remain valid.