TA on BCH/BTC

10 lis 2018

Did a TA on Bitcoin Cash against BTC. It shot up from 0.064 BTC all the way till 0.098 BTC after the announcement from binance that the hard fork token will be supported. Interestingly enough, it did not pass the point of 0.1 BTC and i think because there was a lot of sell orders at that point because of the rule of round number. Nonetheless, after doing a fibonacci retracement on the chart, i figure a good entry can be at 0.0824 BTC at the exact 50% retracement mark. The retracement was a normal one because BCH was very overbought from the last few days.