CRYPTANALYSIS - HOUSE VIEW ON KEY ALTCOINS

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76. TECHNICAL ANALYSIS: BTCBCH (Published: 15th Nov, 2017)

Analysis

  • BCH/BTC surged from 0.09 to as high as 0.4 recently, which is about 4 times in 3 days
  • It was moving too fast, with both RSI and Stochastic indicator showing overbought signals repeatedly
  • There was a strong correction, and BCH/BTC is finding support at the 0.18 level
  • Price hitting the upper trendline at 0.195, in which it can break out or go back to the support level

Suggestion

  • Look at the price action at the 0.195 level. Enter long trade when it breaks out, or short when it goes back, with take profit at the support level
  • Volume dropped significantly after the recent rally, it might become stale like what it did prior to the rally, if this is the case we do not recommend trading it

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