BCH May Consolidate Down Another -30% - YES PLEASE!
EMA
BCH, in the 4H, is now trading below short EMAs (red, orange, yellow) and hovering at EMA 55 (green). A breakdown here, (where we see full candles trading below EMA 55) indicates a deeper retrace. We want this!
STOCHASTIC
Stochastic (white curve) currently at ~33. The last time BCH found support AND fell below EMA 55 AND bounced off the Bollinger Band was @ $270 - the Stochastic bounced off 8.5. If BCH finds support @ $338.92, Stochastic could likely be at 8.5 (or lower). We want this!
MacD & Histo
For a deep consolidation, the MacD must fall below neutral line (just as it did @ $270). The histo says we got room! -A new curve of red is just beginning to form.
BCH NEEDS A BIG RETRACE! We want this!
The more it falls, the greater the bounce. And, if it's going to $900+ zone, it needs to go deep.
Let's see how this plays!
BCH, in the 4H, is now trading below short EMAs (red, orange, yellow) and hovering at EMA 55 (green). A breakdown here, (where we see full candles trading below EMA 55) indicates a deeper retrace. We want this!
STOCHASTIC
Stochastic (white curve) currently at ~33. The last time BCH found support AND fell below EMA 55 AND bounced off the Bollinger Band was @ $270 - the Stochastic bounced off 8.5. If BCH finds support @ $338.92, Stochastic could likely be at 8.5 (or lower). We want this!
MacD & Histo
For a deep consolidation, the MacD must fall below neutral line (just as it did @ $270). The histo says we got room! -A new curve of red is just beginning to form.
BCH NEEDS A BIG RETRACE! We want this!
The more it falls, the greater the bounce. And, if it's going to $900+ zone, it needs to go deep.
Let's see how this plays!