BCH/USD pair analysis

Two weeks ago I write analysis of BHC/USD pair and predict bullish sentiment in this currency pair and my intuition was right. BHC had made really big move.

In next few days things just evolve. From 29 November to the end of month pair stabilized round $460 than it rally up to $650 where it stay from 2 to 9 November. On the chart above we can see nice fitting of this levels with Fibonacci levels. Its is just amazing how this Fibonacci proportions fit in price patterns.

If we look closer, a few ours ago some interesting patterns emerge.

On above chart we can see reversal signs in pairs movement. First sign is wedge forming between two trend lines. Second more strength sign is divergence movement of MACD and RSI indicators signaling that pair is probably moving downwards. The question is how much pair will fall.

Probably levels could be predicted on 76.8% and 61.8% Fibonacci levels from the first chart. That mean that pair can stabilize around $870 or even lover around $750 if bear scenario will evolve.

From here we have to paint even bigger picture of situation around BCH/USD pair. Herds think about other stuff also.

It all about Bitcoin Segwit2x mambo jambo and herds obviously deciding to move some value out from Bitcoin and that is probably the reason that BHC in gaining momentum. Take some safety measures, spreed your portfolio and wait until this volatility storm calm down. 

Image sources: Investing.com

Disclaimer: If you use my ideas and analyses in your investment ventures, you take all responsibility and consequences about your actions.

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