Allroad
Long

BCH-USD Bullish Pennant

BITFINEX:BCHUSD   None
270 views
7
Pretty obvious pattern to me. Hope it will break out as expected and reach 500-550 within a few hours.
Comment: This was interesting to watch the unexpected breakout happening on the down side. If zoomed in, you can clearly see how the price movement accelerated 2x-3x as it breached the triangle boundary.

I expected it to break upwards and continue previous trend as usual, but market conditions and BTC price surge influence made it go the other way. I think a lot of funds have moved from BCH to BTC at that time.

Comments

Thank God it broke south.
Reply
Allroad konstantinkoll
@konstantinkoll, it could've gone either direction, but usually these things tend to continue the trend. I think this was a special case considering that BTC was making ATH moves at the time.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out