BCH and BTC - Double Agents and Resistance
Stats:
RVI - Dipped today and yesterday, expected from the last charts I posted.
VI - (-) Indicates that we have some more sales coming
VI - (+) Indicates that even with sales, we still have a bull run going (at least for now)
Volume - Highest volume this month, which is good signs for a bounce when combined with RVI and VI.
BTC/USD - BTC has been on a tare as well, however the past 2 days it also dipped. As BCH's value is intimately intertwined with BTC (trading BTC->BCH) we would expect that with BTC falls, BCH will fall.
BTC is currently encoutering MACD resistance, and BCH is beginning to stall out to find a new support line. The most immediate support would be 1317 by calculation, or 1300 as a mentally pleasing number. If we see continued to support at 1300, we can expect that over the next week we will have volatility between 3-6% of its current value (approx 1300 to 1400).
RVI - Dipped today and yesterday, expected from the last charts I posted.
VI - (-) Indicates that we have some more sales coming
VI - (+) Indicates that even with sales, we still have a bull run going (at least for now)
Volume - Highest volume this month, which is good signs for a bounce when combined with RVI and VI.
BTC/USD - BTC has been on a tare as well, however the past 2 days it also dipped. As BCH's value is intimately intertwined with BTC (trading BTC->BCH) we would expect that with BTC falls, BCH will fall.
BTC is currently encoutering MACD resistance, and BCH is beginning to stall out to find a new support line. The most immediate support would be 1317 by calculation, or 1300 as a mentally pleasing number. If we see continued to support at 1300, we can expect that over the next week we will have volatility between 3-6% of its current value (approx 1300 to 1400).
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