In last review of Bitcoin cash we wrote about the tendency to turn rebound into growing trend.
The rise was impressive in fact: it tripled from $ 600 to $ 1’800 within 4 weeks.
All moving averages were broken upwards on both daily and weekly charts.
And it has been declining for 3 weeks already. More than half of bulls’ achievements are lost. Moving averages are above again.
Intersection of moving averages is in sale. Even slow-moving average of weekly chart is declining. On daily charts there is strong bearish trend:
The moment of truth has come: if bulls do not regain control over the market and do not prevent further decline (approximately below $ 1’000) capitulation of buyers and fast return to growth starting point of $ 600 are likely to happen. In this case further decline is more likely. But if bulls keep the price of $ 1’000, buy all the proposals by those who wish to sell short, the new opportunity of re-growth to $ 1’800 and then to $ 2’800 will appear. Where it may be possible to finish the bulls’ game having sold all those who recognized the technical signals for buying that appeared then. However, this rise is a pure fantasy. Now we see steady decline which is likely to continue in future.
Wish you profitable deals!
Follow our reviews!
The rise was impressive in fact: it tripled from $ 600 to $ 1’800 within 4 weeks.
All moving averages were broken upwards on both daily and weekly charts.
And it has been declining for 3 weeks already. More than half of bulls’ achievements are lost. Moving averages are above again.
Intersection of moving averages is in sale. Even slow-moving average of weekly chart is declining. On daily charts there is strong bearish trend:
The moment of truth has come: if bulls do not regain control over the market and do not prevent further decline (approximately below $ 1’000) capitulation of buyers and fast return to growth starting point of $ 600 are likely to happen. In this case further decline is more likely. But if bulls keep the price of $ 1’000, buy all the proposals by those who wish to sell short, the new opportunity of re-growth to $ 1’800 and then to $ 2’800 will appear. Where it may be possible to finish the bulls’ game having sold all those who recognized the technical signals for buying that appeared then. However, this rise is a pure fantasy. Now we see steady decline which is likely to continue in future.
Wish you profitable deals!
Follow our reviews!
