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BCHUSD three short-term scenarios
Perhaps I was euphoric in my previous post, as BCH appeared to have broken $2000 with ease. However, after the third attempt failed around 0 o'clock UTC, it crashed (I thought that time would be successful but it's understandable that failing to truly break $2000 the third time would lead to a drop).
There are three possible scenarios that I see. Very easy to understand where I'm coming from by looking at the chart. The orange lines are Fibonacci levels that were previously / currently resistances & supports.
My personal take on the probabilities is 1 > 2 > 3. However, even in scenario 1 there could be some correction if it reaches $1860-1880.
There are three possible scenarios that I see. Very easy to understand where I'm coming from by looking at the chart. The orange lines are Fibonacci levels that were previously / currently resistances & supports.
My personal take on the probabilities is 1 > 2 > 3. However, even in scenario 1 there could be some correction if it reaches $1860-1880.
Nota
Even though another two attempts failed, BCH still manages to stay above the trendline (in scenario 1). This trendline itself is very attractive.Nota
Well, we may have broken down to scenario 2 now. Despite community support, BCH doesn't have the market access or the hype of BTC.Nota
Previous resistance may become new support ($~1860). Let's see
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