This chart is meant to analysis BCH/ETH pairs and how historically the sell off occurred & continues. I am speculating a mean reversal soon based off EW & fib retracement levels.
Also personally I know that when BTC finally takes off for $70k plus BCH will be turbo charged and can gain momentum against ETH. GL guys Big Mike loves you.
Currently ETH price is $ 396, BCH price is $ 297. There is a possibility that next week there will be a price reversal, BCH will rise stronger than ETH
Potential path that BCH / EUR follows, taking into account recent support / resistance levels, massive sell-off on the RSI and big engulfing Bearish candles. Will be interesting to see how this plays out. if 1.32 level gets taken, expect a large drop.
With a Bitcoin coin showing good flow, the circulation pumping of the major Altcoin will come.
For the first time, BCH will rise first.
The BCH/ETH chart keeps 15d MA and will rise to 1.45~1.5 ETH (200d MA) and then drop.
When BCH/ETH goes down for a while, ETH will be pumped.
Technical analysis:
. BitcoinCash(ABC)/Ethereum is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.
Trading suggestion:
. There is...
I think, that current movement from Feb 18 is finishing. That move from 12 Nov 17 to Feb 18 must have a continuation somewhere to price 1, as I marked.
The point is:
- if cryptomarket will grow, ETH will grow faster than BCH
- if cryptomarket will fall, BCH will be falling faster than ETH
Finally the triangle will be broken, BCH has to break that 2 strong resistances, after that BCH can fly.
In the other side ETHUSD are still in bearish mode.
This is a short term trade. Im not your financial advisor DYOR.
