Cryptocurrency
by Seth Parker on March 15, 2018

Bitcoin Cash Forecast – Standing on the edge

Bitcoin Cash is having a ‘now or never’ situation at the moment. We are very close to finding out about the future destiny of the BCH, at least in the mid-term.

The price is now finishing a huge head and shoulders pattern (purple areas). This is a trend reversal pattern and can potentially bury all the demand here. For a major sell signal (yes, we can go even lower), we need to see the price closing a day below the support on the 910 USD (blue). That would mean a breakout of the neckline, which according to the price action rules, is a trigger to go short.

Currently, buyers are doing everything to keep the bullish dream alive. The price is trying to create a hammer candlestick. This kind of a pattern on a major support like that would bring us a positive sentiment (like on Dash from today’s analysis).

How to trade the Bitcoin Cash?

For now, be patient. Bounce from the support delays the negative sentiment for a while. Breakout of the blue area, will be an obvious invitation to go short.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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