Finding myself intrigued by Bitcoin Cash.
We recently hit bottom a 2nd time and have thus far begun moving up, breaking out of a small falling wedge (on the non-log daily chart, the logarithmic weekly chart is what is pictured above, but it still has the wedge and targets from the daily non-log chart).
Why am I intrigued, outside of a potential double bottom? Bitcoin Cash was a fork of the original Bitcoin code, meaning original adopters and/or owners of Bitcoin at the time received an equivalent amount of Bitcoin Cash. Many of them were made wealthy from Bitcoin. It would seem to me, if I were in their position - I would have a vested interest in seeing Bitcoin Cash make a comeback, if even just briefly enough to make some returns on an essentially free investment.
On the chart - interim daily falling wedge targets, boith still under $200.
For weekly / long-term - get through and hold above the first red resistance area to make it to the next one above it - that happens, the double-bottom comes into play.
We recently hit bottom a 2nd time and have thus far begun moving up, breaking out of a small falling wedge (on the non-log daily chart, the logarithmic weekly chart is what is pictured above, but it still has the wedge and targets from the daily non-log chart).
Why am I intrigued, outside of a potential double bottom? Bitcoin Cash was a fork of the original Bitcoin code, meaning original adopters and/or owners of Bitcoin at the time received an equivalent amount of Bitcoin Cash. Many of them were made wealthy from Bitcoin. It would seem to me, if I were in their position - I would have a vested interest in seeing Bitcoin Cash make a comeback, if even just briefly enough to make some returns on an essentially free investment.
On the chart - interim daily falling wedge targets, boith still under $200.
For weekly / long-term - get through and hold above the first red resistance area to make it to the next one above it - that happens, the double-bottom comes into play.
Note
50/200 day MA (dotted) golden cross on daily chart here, still a bit of a wait for a 50/200 EMA cross thoughNote
Got an initial move up to the 200 EMA after failing to fall below the 50/200 MA cross and reach top of support, expecting another move to 200 EMA and then 160s -> 177:Note
Halfway to first target:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.