Cryptondo is everywhere in the universe. CryptondoY is the stuff that makes space expand and even accelerate. Astrophysicists have known that for quite a bit of time. Cryptondo is now also in the Crypto Community. We started making public charts only 30 days ago, but has already managed to become the daily and weekly signal provider.
Cryptondo is not surprised. This unknown force has already revolutionized and has taking TA to another level with being right almost every single time! Let us begin...
We are here looking at the 4h BCHUSD 3.78% chart. 13 days ago we had, what seems like a reversal, after BCH had a pretty big retracement more than 80 % from its ATH 0.55% (all time high). We had a really steep uptrend followed by a nice bull flag which took us even higher.
We have the last 3 days going sideways. We have not managed to make higher highs or higher lows. This has probably something to do with that we are fighting the strong EMA 200, which acts like huge resistance. So the consequence we are facing right now is the famous HS pattern (Head and Shoulder), which predicts that we must go down.
And this basically makes a lot of sense, since we havent had a decent retracement since the start up the uptrend.
Expect therefore we will go down. I have made a buy zone for you and used the Trendbased Fibonacchi Extension tool to set our target. Always remember to put a stop loss. And don not just buy blindfolded. Keep monitoring the chart closely. Look for volume , RSI and the MACD .
Source: http://cryptondo.com/