Some of my trainees asked me to do TA work on BCC so here I am. Firstly I wanna say that this coin TA wise makes ABSOLUTELY NO SENSE. There is no wave structure and it just feels VERY odd. One thing I found out is that it is SORT OF respecting the FIB retracement. We can see a bounce off the 0.236 and also a bounce off the 0.382. These moves seem to be stopped by levels that are too strong to be broken.
I strongly advise not to trade this coin as it makes absolutely no sense BUT if you REALLY want to trade it.
Buy zone: 0.102 area (the 0.5 FIB)
Sell target: 0.145 area (big level that I probably wont be able to break past)
The chart clearly shows that when this coin decides to go up it does not retrace at all it just goes up, green green green and green until it is stopped. For that reason I advise to move your STOP LOSS up as the price goes up that way you are protected and if your stop loss is reached it probably means the move up is done.
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Please make sure to like this chart if you agree and if you want to trade actual good coins that show logical volume movement make sure to check my other charts!
Bitcoin Cash does not make sense if you see it on BTC pairing and that is not because it is a Trash coin, on the contrary, that is because BCH is fundamentally working in the direction to get away from being manipulated by BTC. If you see BCH with USD pairing, it makes perfect sense.