HiTech
Short

BitcoinCash Should Go Lower

POLONIEX:BCHUSD   Bitcoin Cash / Dollar
Following the previous idea on BitcoinCash, it has gone up as expected. After breaking the triangle pattern , the price went sharply up, from the  $1700 support all the way up to $4200, resulting in 146% gain over the USD.

Now BCH/USD is facing a resistance at 127.2% Fibonacci retracement level applied through the previous all-time high corrective wave. This is the $3750 level which has been rejected throughout the past couple of days. Price spikes went above that level, up to $4236, nevertheless, it failed to close above the 127.2% Fibs.

Now the key price level remains $4236 and only break above could push BitcoinCash higher. But at this point, a corrective wave down to 61.8% Fibonacci retracement , at $2680, should be expected.
Trade geschlossen: Ziel wurde erreicht
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hi team how do you see the future for bitcoin cash?
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any update on bitcon cash?
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HiTech PRO cryptjdaily
@cryptjdaily, not yet, but I am watching it
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HiTech PRO cryptjdaily
@cryptjdaily, I am waiting on a buy signal
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@HiTech, when would that be? I bought @ 2300, not sure if it's a sweet spot.

It's taking a while to recover from this correction, BTC is struggling even more
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HiTech PRO FernandoRocha88
@FernandoRocha88, don't see a buying opportunity yet...
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what do expect now for bitcoin cash?
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HiTech PRO Vinylman
@Vinylman, nothing
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don't pretend this has anything to do with TA. It's a BTC crash that's implicating the entire market. BTC over-extended. Period.
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@DrJLT, lol
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