Bitcoin Cash (BCH) Update: MACD to Price Bullish Divergence
Bitcoin Cash (BCH) displays a divergence between price and MACD. Note how the price has posted a lower low (blue line) while the MACD has posted a higher low. This is a bullish divergence and so BCH should trend reverse any moment. Also, the symmetrical triangle of the price pattern is downward pointing and once prices breach the upper white line, trend reversal should be confirmed by an impulse set of five waves up.
BCH is going to continue to crash after some recovery IMO, especially when coinbase gives their customers their BCH and they dump it on exchanges, and that's when I'll go in on BCH. This is the few times i tend to heavily lean more on fundamental/macro analysis.
Yes, I heard the exact same rationale as to why it'll crash right before the first fractal zinged up to almost $700. No offense, but your comment is a good confirmation of the second fractal.
Let's see what happens.
None taken, that's a good point.
Sweet!
Haejin, several days ago you posted an analysis of Lisk. Many people had trouble viewing the video, and I never was able to make it work. I am very interested in your analysis of Lisk. Perhaps if you have a chance you coud do an update, or if the previous video is viewable somewhere else you could direct me there. Thanks!
Nice chart! I've resteemed and upvoted your post.
Steem on!