MichaelvandePoppe

Bitcoin Cash Trade Idea 22 January 2018

BITTREX:BCCBTC   Bitcoin Cash / Bitcoin
So, bitcoin cash             . Hated and loved and facing some interesting times right now, as I've posted about it before. Posting on TradingView, as you can follow what's happening to the coin.
What do we see on the chart?
It's facing a triangle pretty soon (days). In the earlier triangle during november/december it dropped out, falling to the lower white line. RSI still showing bearish signals and MACD shows bearish signals as well (negative).

What are the scenario's here?
1 - We'll drop out of this triangle to the lower level (red arrow) and fight resistance from there. If we drop out, that resistance isn't that far, so we'll test it from there will take a few more days.

2 - Succesfully breaking out upwards. If we do that, we'll possibly making a big jump as just before. Given the fact that if we break out upwards will be hurting $BTC, it's interesting to share.

3 - Neither of the both breakouts work and we'll fall down to ATL zone. This is the least expected scenario.

Good luck! Will post a new chart tomorrow.
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