Bitcoin Cash Price Update - Potential Reversal Sign?

in #bitcoincash6 years ago

Hey guys, Bitcoin Cash had a horrible day yesterday, I think it fell about 26% against the US dollar but we might have found some support now. Here is the daily chart:

FireShot Capture 355 - BCHUSD_ 977.8 ▲+9.88% — Unname_ - https___www.tradingview.com_chart_AxIWekrr_.png

Comment: The lines in the chart are moving averages and the red/brown line is the bollinger band median where we actually have made a temporal bottom. We will see if this will hold because on the 4 hour chart we actually have a stochastic divergence.

I will show you here:

FireShot Capture 356 - BCHUSD_ 984.0 ▲+10.57% — Unnam_ - https___www.tradingview.com_chart_AxIWekrr_.png

Comment: That means that we made a lower low on the price meanwhile we made a higher low on the stochastics.

Look out for a breakout above the descending trendline, then we could try to make another move up.

Happy trading!

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