BCHUSD has been looming over long-term support.
In last review we wrote that all technical signals are on bears’ side.
And asked ourselves a question: “Will the fall be?”
Since that one of the signals has become bullish. And the fall has come :)
On weekly chart fast-moving average crossed declining low-moving average up. Formally, crossing of averages is a signal of trend change. However, oftentimes signals can be false when low-moving average
is declining. It seems that it happened so this time. All rebound of previous weeks was quickly won back down. And the rate loomed over the zone of long-term support. Technically, the conditions for further decline to $ 600 and lower have been created. And it is very likely to happen, moreover we will already see the start of this movement this week.
Cancel of the idea of long-term decline if the growth is above $ 1’200.
Profitable deals!
And follow our reviews!
And asked ourselves a question: “Will the fall be?”
Since that one of the signals has become bullish. And the fall has come :)
On weekly chart fast-moving average crossed declining low-moving average up. Formally, crossing of averages is a signal of trend change. However, oftentimes signals can be false when low-moving average
is declining. It seems that it happened so this time. All rebound of previous weeks was quickly won back down. And the rate loomed over the zone of long-term support. Technically, the conditions for further decline to $ 600 and lower have been created. And it is very likely to happen, moreover we will already see the start of this movement this week.
Cancel of the idea of long-term decline if the growth is above $ 1’200.
Profitable deals!
And follow our reviews!
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