BCHUSD 8h: Fibo 1.62 target = 1.300 USD. Maybe possible.

If we look at the movements of the last weeks, we could extrapolate the trend lines on the basis of fibo under the condition that the top is around 900 USD (fibo 1). So there could be two possible trend ways up to the target 1.300 USD. it is very rough, but possible. Correction way 1 to around 575 USD. Correction way 2 to around 400 USD with a between high to 760 USD.

Let's see what happens. Happy trading. :-)

Comment:

support at 575 possible.

Comment:

pattern failed. next big supports at 500 / 400 / 300 ...

Comment:

Current situation in brief: we see a sideways movement down to a decision triangle. if the pattern fails, we can assume that the price will continue to fall.