• BCH/BTC is on the verge of a bullish extension on the daily time frame. 
  • Bulls seeking a break of near term resistance for conviction. 

The bulls have stepped back into the ring, stopping the bears in their tracks following a swift and sharp downside correction.

The following illustrates where the next daily swing-trading opportunity could come about following a break and retest of the 4-hour structure.

Daily chart

The price has completed a 50% mean reversion and would now be expected to hold the support following the deceleration of the sharp correction at the neckline of the extended W-formation. 

4-hour chart

The bulls will need to get above the 4-hour resistance and 21-moving average which would pull MACD above zero and create a bullish environment accordingly. 

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