Bitcoin Cash Analysis: Are We Near A Breakout?
Bitcoin Cash has been trading sideways for a while now, but that could be about to change now. Lets have a look at the 4-hour graph:
Comment: This pennant formation is about to come to its end and that will happen tomorrow. So, we will either have a breakout to the upside or to the downside.
Now, what does it look like on the hourly chart? Lets have a look:
Comment: As you can see, there is already a breakout on the hourly chart, but we cant say for sure until we can get it confirmed on the 4-hour chart.
Finally, lets have a look at the daily chart:
Comment: Ok, the good news is that we had a green day yesterday, that could be an indication of a trend change but we just have to wait this out until we get a real confirmation.
Happy trading!
That's so good
It'll be really interesting to see how this pans out. I'm content holding both sides for now.
I agree, I have accumulated more Bitcoin Cash in order to hedge against a failed Segwit for Bitcoin.
There is always good to have some insurance and to be able to buy cheap
And thanks for your analysis, by the way. It's always a pleasure to hear your views!