Bitcoin Cash traded a few points below the $ 1400 level. It formed a low level of $ 1,390 and is currently correcting higher.
It has moved over 23.6% Fib retracement level of the last big drop from $ 1,638 high to $ 1,390 low. However, BCH buyers face many obstacles on the upside close to $ 1,520 and $ 1,540.
More importantly, yesterdays highlighted a new bearish trend line with the current $ 1,520 resistance, active on the BCH / USD timetable. The couple is now well above the level of $ 1,450 and consolidates losses.
It tested almost 50% Fib retracement level of the last big drop from $ 1,638 high to $ 1,390 low. However, it appears that trend line resistance and $ 1,540 are important barriers to buyers on the upward.
lets hope it finds the support it needs at that level otherwise it could go down to the next level which looks about 850 from your chart. but for sure it definitely is going to rise very soon
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Yes, matter of time.
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thanks for sharing. It's really sad and bad. i think bitcoin will be down more.
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Might be, but for some short time.
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i wish it goes this way for short time.
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Worth it to read.. Thank you for sharing...
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My pleasure
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have a different idea. If you visit my blog, you can see my thoughts.
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Phew! I hope there is something good awaiting the future of Bitcoin and its family. Nice update bro! Keep them coming..
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very good work, it was worth translating to read it
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Good post @tradewonk, please help me
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Still expecting Bitcoin to fall to $8,000 -$7,500 this would be my ideal target. Trend line drawn from July 17, 2017, tested on September 15.2017, and now I'm waiting for a confirmation of the trend line which would be a bounce in the highlighted zone. Haha i've been waiting for weeks for this happens, Bitcoin at a huge discount!!!! Great Analysis i use the same the EMA's and recently switched to trading price action with Stochastic RSI for momentum confirmation. You got my follow! :D
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Why does these drop in value occurs......
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gran posts muy buen análisis departe de ti.
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Great post..!!
Stay strong, don't panic:
https://steemit.com/cryptocurrency/@priyathamreddy/must-see-post-for-all-cryprocurrency-investors-right-now-black-friday-of-cryptocurrency
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Look at the chart. It's dropped too much.
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you use too big of a time frame to make such an assumption on crypto yet, lots of people will burn their hands with this kind of tech analysis, look how it didn't even test the 50% line on the way down, it just fell through like a hot knife through butter
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right now its 1264$ on coinbase! Gave my brother 100$ of bitcoin cash for xmas its probly worth 50$ now, at least he knows to hodl!!
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You got a 17.90% upvote from @postpromoter courtesy of @tradewonk!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
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Thanks
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