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BCH Correction

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From what I observe, btc might break its trendline,

And for the BCH, it's still got some space before it broke or rebound at the Trendline.

Note : The arrow was calculated based on top to neckline area. (The target is Between 0.5-0.382 Fib)

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Additional note: The arrow didn't determine the Support area, the support area might be Higher or Lower than the target.

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There is a variance result between of the arrow that I calculated, it's because the different neckline that shows by each different TF.
The Max-Min results are about 1062.21-1090.27.

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By the Rule of Alternation, it might be possible this correction is a simple A-B-C. (if it doesn't break down :3)

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I'm waiting for the confirmation to ensure that the price is breaking the current DownTrend Line.

Meanwhile, He's on fire, this is really a good sign.

“I didn’t post it or talk about it publically yet but we just had a meeting over this week; Bitcoin Cash is coming to tens of thousands of convenient stores in Japan and you’ll be able to buy anything in the entire convenient store with Bitcoin Cash which means including like paying your electric bill”

coinfrenzy.io/bitcoin-jesus-bring-bch-convenience-stores-japan/

거래청산: 타겟 닿음

I'm Closing the target, this doesn't mean the correction period has ended.

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Good area to decide.

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As we can see, it has a little bump at the neckline(A high volume, can be perceived as a reversal, while low volume usually means a correction).

Maybe we can see a clearer picture around next few hour or tomorrow.

To be decoupled from btc, of course, the gains or the loses should dominantly be contributed by the bch:btc ratio.

Thanks for following this analysis.

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I'm not really convinced in this one,
But, I think the risk ratio for long is not really good for this one.
Unless the price broke the neckline and the top price, it will create an upward force up to 1377 assuming that wave is wave 5, but for now, I think the previous wave is ABC.

Trade at your own risk thanks.

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At this part, I want to emphasize that, there are two gaps (About 4$ in each gap, 30 TF), that kinda form an island reversal. The gap didn't form in tradingview chart, I am checking directly from the hitbtc chart. (i'm not sure why and how).

This can be mean, there will be more correction coming in.

거래청산: 스탑 닿음

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I forget to mark down this post. I'm already stop to manage this post.

Here's my latest concern.

Thank you.

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I'm too lazy to post up a new setup, as I focus so much on the trading lately.

but here, some good chance for reversal.

Fundamental?
*BCH Already tested 650 level, it will start testing the upper bound.
*Investors are holding back to enter because of btc price affecting bch and other coins so much, but we can see BTC got some stable pricing for now unless the 5800-6k broken again.

The big thing.

Nchain, one of the companies that investing in bch development,
It holds so many patent (about 728), most of them are still pending.
What do you think if all of them gotten verified on a week to week or every few day paces?

nchain.com/en/media/nchain-receives-second-patent-digital-security-expands-technical-support-enterprise-blockchain/

worldwide.espacenet.com/searchResults?ST=singleline&locale=en_EP&submitted=true&DB=&query="Wright+Craig"

Many people judge bitcoin cash community, fraud, centralized, etc, and use name calling a lot to discredit bch real value.
But the important thing is, the patent is granted under PCT that has contracts in so many countries.
wipo.int/pct/en/pct_contracting_states.html

The price is definitely so undervalued, and mostly under the radar of some ignorance whale that only focused on btc(a segwit bitcoin, bitcoin in name only).

A good entry point for me :

650-800 for a long term.
Or if possible,
400-800 ( it's possible but, there is a wall of 2500+ bch or something in 0.1, it required the btc to go down to 4000-5000 assuming the wall will not break.)

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FYI, the force of the triangle pattern is at least 0.1238 0.124 (if it's valid).

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Just in case.

The target is the entry point. (the long and short depends on the direction.)

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imgur.com/f3FCSY6

Aside from the rumor that suggests that there are a ton of bots trade in CoinEX, Investor or Trader may consider the importance of the volume.

Fake or not, we will see how the price going, because if it's not a fake,
The trader will take the Arbitrage Opportunity a lot if the price doesn't match up with the CoinEx market.

#bch #bitcoincash #cashfortheworld #BitcoinIsCash

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Huge Potential Reversal.
As you can see, the Volatility coming down implies a new trend emerged.
Accumulation Phase/Sideway will trim off the weak hand that causing the selling force diminished.

I'm sorry, I rarely use trading view anymore, I've been playing in Coinex a lot.
But here is a chart of BCH/IDR just to point out the neckline etc.