Forex_Academy

BCH/BTC valid or false breakout?

BITFINEX:BCHBTC   None
BCH/BTC dropped significantly today and could inalidate the breakout above the upper median line (uml) of the descending pitchfork . Price has found a very strong resistance at the 50% Fibonacci line of the ascending pitchfork . A failure to close above this line could signal that the rebound is completed and the price could start another leg lower soon.
Yes, false. It was just a bounce.
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Forex_Academy tradewizz
@tradewizz, yes the rate dropped today and continues to pressure the upper median line (uml). It could come towards the LML.
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