Bitcoin Cash [BCC] looking to continue to the short side

28 במאי 2018

BCC Still Continues To Seem Bearish.

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  1) Moving Averages are about to cross Bullish and price action is underneath the MA trend lines.
  
  2) Formed a Head & Shoulders pattern and the pattern confirmed. Expected Target for this is $684.
  
  3) A long term trend line was drawn from the start of Nov 2017 until today. This trend line lies right above the Short Target from the H&S. Price could bounce off of this (approximately $789) as support or either bounce from the H&S target. I listed the difference from Target 1 and Target 2 which is about a 12.5% difference in price.
  
  4) We are currently forming a downward channel if zoomed in to our current price region.
  
  What do you think?
  
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