BCH - Quick Thought: Bitcoin Cash Getting Interesting!
Whilst BTC has been struggling against a correction downwards, BCHUSDT has seemingly been slipping off it's shackles.
Looking at the above chart, we can clearly see the movement between BCH and BTC (represented by the orange line) has been closely correlated for quite some time. The movement has been close, however the values have decoupled since April 2020.
If you zoom out you'll see the lines were joined back then; now we're still moving the same, but BTC has shown much greater growth.
This movement up by BCH represents a breakout from a consolidation triangle as well as crossing 2/1 on the gan fan.
If this is the start of a correction between the values between BTC and BCH, expect to see large growth from BCH over coming days.
If you're a fan of the gann, it could hit $400+ based on that projection. I wouldn't hold my breathe too much there but anything is possible.
Indicators are looking decent for continued long term growth.
If you're buying in now, you're somewhat late on the breakout and might get hit with a momentary correction, so be careful or DCA your buy in.
--
“My dear you are ugly, but tomorrow I shall be sober and you will still be ugly." - Winston Churchill
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
Looking at the above chart, we can clearly see the movement between BCH and BTC (represented by the orange line) has been closely correlated for quite some time. The movement has been close, however the values have decoupled since April 2020.
If you zoom out you'll see the lines were joined back then; now we're still moving the same, but BTC has shown much greater growth.
This movement up by BCH represents a breakout from a consolidation triangle as well as crossing 2/1 on the gan fan.
If this is the start of a correction between the values between BTC and BCH, expect to see large growth from BCH over coming days.
If you're a fan of the gann, it could hit $400+ based on that projection. I wouldn't hold my breathe too much there but anything is possible.
Indicators are looking decent for continued long term growth.
If you're buying in now, you're somewhat late on the breakout and might get hit with a momentary correction, so be careful or DCA your buy in.
--
“My dear you are ugly, but tomorrow I shall be sober and you will still be ugly." - Winston Churchill
--
I'm a guy that you don't know posting his ideas on the internet for the sake of improving as a human being. If you take this as financial advice, that's on you.
If you like my analysis, then leave a like and feel free to follow for more free content. Feedback, criticism and crude humor are welcome :)
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
t.me/KadnimCrypto
