Quick analysis on BitcoinCash, A symmetrical triangle is forming and a hefty bearish divergence forming in the RSI and MACD
We know that this pattern can breakout in either direction. My prediction is the Price action to fall and test the green trend line and then continue up in the uptrend. If we break the green trend line we can expect a large drop in price action.
Now would be a good time to set tight stop-loss/take profit.
As always, I'm new to Technical Analysis and still developing my methodology. If you can find anyway i can improve on my charting, please feel free to let me know.
This is not Financial advice and I urge everyone to do their own homework before throwing their money into anything.
We know that this pattern can breakout in either direction. My prediction is the Price action to fall and test the green trend line and then continue up in the uptrend. If we break the green trend line we can expect a large drop in price action.
Now would be a good time to set tight stop-loss/take profit.
As always, I'm new to Technical Analysis and still developing my methodology. If you can find anyway i can improve on my charting, please feel free to let me know.
This is not Financial advice and I urge everyone to do their own homework before throwing their money into anything.