Following from yesterdays gold sell, looking for this pull back to continue slightly further above 0.618 to RT region. Then see some further continuation to the downside. After FOMC last night looks like we're seeing some strengthening of the dollar, which is inline with gold to continue selling. Will wait for rejection around this region for a viable entry.
The 4 hour is bullish as we speak, but we should monitor the key level at 9.
Upper trend line will be target price of 1st bearish wave, lower trend line will be target price of deeper bearish pressure.
If 9 breaks then major move upwards.
Would look for a short entry around all time high price with extremely tight stop losses.
In the 4H chart, BCH broke out from a bearish channel that led price movements in the past days. Now it is flirting nicely with first resistance at 235-240. On the fundamental side, BCH mining rewards have been halved in the past months. The recent break-out might prompt a more profound and long term bull-run if accumulation starts at these levels