BCHUSD has recently experienced a multiple very short (1~2 days) but strong rise, followed by around 20% correction in the following days. This appr. 40% spike is currently one and a half day old. If the price follows the pattern, then BCHUSD rise will fade away in less than a day and the following few days will be 15~25% correction (target below $650.)
Also, the volume of the three latest bars (current rise) is much weaker than the volume of the previous rise. The price will be more vulnerable to a deeper correction.
Also, the volume of the three latest bars (current rise) is much weaker than the volume of the previous rise. The price will be more vulnerable to a deeper correction.