The cup and handle is a pretty typical formation after a pump and dump/hype and crash situation.
As we have seen BCH has a steady ground on the 800 mark, and now it's reversing the trajectory.
Conversely BTC is dropping at the moment probably for a long overdue consolidation or a short to 6.5k.
If BTC is really correcting then for certain BCH will reach 3k or more. If it shorts to 6.5k then BCH will form a cup and handle around 1.4-1.6k mark.
Keep an eye out for both charts.
As we have seen BCH has a steady ground on the 800 mark, and now it's reversing the trajectory.
Conversely BTC is dropping at the moment probably for a long overdue consolidation or a short to 6.5k.
If BTC is really correcting then for certain BCH will reach 3k or more. If it shorts to 6.5k then BCH will form a cup and handle around 1.4-1.6k mark.
Keep an eye out for both charts.
Kommentera:
BTC is looking REALLY BEARISH. It may drop to 7.2k (BCH target 1400) and bounce before shorting to 6.5k (BCH target 1600). Otherwise 3k!