bitcoin sv Important Update: Bitcoin vs Bitcoin Cash - What Will Happen This Week?

See my work over at Steemit: https://steemit.com/@freeforever

It certainly was a wild weekend for the cryptos and Bitcoin Cash went nuts and touched 2600 USD at one point. However, it has now come back a bit and it now time to analyze the weekly charts. Here is Bitcoin:

Comment: Unfortunately Bitcoin formed a very negative candlestick. It is called a large bearish engulfing sign. That could mean that this was a temporal peak on the weekly level and that we might fall back to the support level of around 4700.

The positive scenario would be that we might form a bull flag and that we could end this week around 7300 and then continue going up next week. In my opinion that is less likely but Im throwing it out there just in case.

Now, lets head over to Bitcoin Cash and the weekly chart:

Comment: Bitcoin Cash formed a very strong and bullish candlestick. However, it did not end the week near the top but I still do think that we could move higher in the near term.

One scenario is that we will form a bull flag and then, we would basically tread water this week and the other scenario is that we will continue to go up this week and I will show you why on this other chart showing BCH vs BTC:

Comment: Here we can see that Bitcoin Cash has touched the support area around 0,176 BTC and that could mean that we are ready to continue our journey to the upside. But as always, we will have to wait and see.

Finally, later today, I will come back with an analysis on the other altcoins and see how they could move during times like these.

Happy trading!

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Bitcoin: 1My3kPtCkktWYFy1nNN8t6gtqbHzzE5kQN

Ethereum: 0xd8E920589a6cf9D4b32cA86B7D8D06fBdF1d786F

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bitcoin sv Important Update: Bitcoin vs Bitcoin Cash - What Will Happen This Week?
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