BCH In Depth 4/22/19 1D: Bears in the bushes. Or is that Craig?

٢٢ أبريل ٢٠١٩

I have been watching a very interesting pattern play out on the daily for the last week where we are basically flipping from descending to ascending triangles on a central region from $289.76 to $297.17. Fantastic volatility for short term trades. The smaller triangles are contained in a larger ascending triangle bull flag which is the one pattern not visible on the weekly lol. It’s like a zipper almost. In any case, this center range is becoming a very clear support and resistance area that we should note for the future depending on which way we go (purple box is the range). We have a declining RSI at 59 and a bearish MacD which curiously made the bearish cross on April 13th right before we had a 29% run up that resulted in a rejection from the top of our ascending triangle but did not cross the MacD back to bullish . I’ve got to stick with what I see here: that pattern we have seen in terms of price action indicates we will retest the top of our larger ascending triangle but that MacD and RSI appear to be bears ready to ambush from the bushes and take us down into our gray area (box with yellow outline). We have less support then resistance in close proximity but the green background you see in the top of the chart is our gap from the BSV hard fork, this gap extends all the way into the mid 380s and now with BSV being delisted it stands to reason that some of that money is likely ready to come back. TA says bear lean with potentially unexpected bear attack but gut is conflicted. Moving on!