BCH has printed a double top formation suggesting that a short-term high is in and signalling a short-term bear-trend. After breaking below the first blue rectangle on the chart, price action confirmed bearish pressure and brought the price to rest just above the second blue rectangle. If price breaks below this support/resistance zone I will feel very comfortable adding more capital to my current short fromm 0.0518.
It is worth noting that the RSI and MACD are both trending downwards, giving slight support to this trend bias.
Cheers
It is worth noting that the RSI and MACD are both trending downwards, giving slight support to this trend bias.
Cheers