graham.edwards84

BCHUSD update on the breakout

Long
BITFINEX:BCHUSD   None
So I realized this afternoon why my trend lines were not working out nicely and why the 200 MA was being crowded on the 30 MIN chart I posted this morning and the reason is that as you can see by comparing the two wave complexes, that the candles and wave structures are becoming bigger and so the easy solution was to switch to the 45 min chart to track the bullish continuation 200 MA and presto bingo now it makes perfect sense. So the down side is a little bit longer to make the bullish break out but still seems to fall within the next 24 hours. It does seem like BTCUSD moving down is having an effect on the formation of this last consolidation wave but I don't expect that the damage will prevent the breakout... anyway let me know your opinions. Thanks.
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