๐ฅ BCH Bearish Break Out From Channel
With BTC falling, alts are losing value rapidly. One of them is BCH.
BCH has been trading inside a bullish channel since the major sell-off at the end of may, but it appears that a new bullish period has arrived. Keep in mind that BCH is highly correlated to Bitcoin, thus a bullish move could render this break out to be fake. On the other hand, BTC appears bearish in the near future, so a move downwards of BCH is to be expected.
Happy trading!
BCH has been trading inside a bullish channel since the major sell-off at the end of may, but it appears that a new bullish period has arrived. Keep in mind that BCH is highly correlated to Bitcoin, thus a bullish move could render this break out to be fake. On the other hand, BTC appears bearish in the near future, so a move downwards of BCH is to be expected.
Happy trading!
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As we speak there's been some good NFP news coming out of the US. Monitoring closely.