Worst case scenario,
As BCHUSD moves into the month of October RSI is currently sitting within the 20/30 zones on the daily chart. BCHUSD will within the next three to five days indicate whether a correction is in store or whether further downside to $130 levels. If the support of $213-$200 is broken then a drop to the next support level of $173 is the next possible target. If this support level breaks then a swift fall to the next support of $130-138 levels.
More loss overtime scenario,
BCH could possibly fall through a modest descending wedge through out the entire month of October breaking below $200 falling down to $175 and bouncing off this support to start off a new bull rally in November.
Best case scenario but unlikely,
Bulls can break through three levels of resistance.
$247, $292, and finally $320
As BCHUSD moves into the month of October RSI is currently sitting within the 20/30 zones on the daily chart. BCHUSD will within the next three to five days indicate whether a correction is in store or whether further downside to $130 levels. If the support of $213-$200 is broken then a drop to the next support level of $173 is the next possible target. If this support level breaks then a swift fall to the next support of $130-138 levels.
More loss overtime scenario,
BCH could possibly fall through a modest descending wedge through out the entire month of October breaking below $200 falling down to $175 and bouncing off this support to start off a new bull rally in November.
Best case scenario but unlikely,
Bulls can break through three levels of resistance.
$247, $292, and finally $320
Comentarios:
Running out of strength of the 1 minute chart. Below 20 50 and 200 MA further decline incoming.
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Now looking for BCHUSD to slip within the yellow trend line
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Bearish MACD on 1234, daily and weekly
Comentarios:
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Volume is too low to prevent further decline
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A lot of sideways movement but it's playing out nicely
So far.....It would appear the higher channel has been selected