BCH bearish divergence and failed to close above cloud for BITTREX:BCCBTC by kishan889 — TradingView

Trend Analysis Chart Patterns BCH BCHUSD BCHBTC bitcoincash

trendanalysis chartpattern bch bchusd bchbtc bitcoincash

On daily time frame yesterday candle didn't close above the cloud proving a failed rally
We also have a lower volume and a Regular bear divergence suggesting us to short

Comment:

Same with the BCHUSD pair
Bull strength is weakening

Comment:

While looking at the past rallies of BCHUSD pair
we see that bch showed the same behavior, low volume - higher price - momentum decreasing
This is a recipe of a bearish trend

Comment:

snapshot

Comment:

I forgot to put the chart in the first comment where i talk about BCHUSD pair
Here it is

snapshot

Comment:

Shorted BCH here at 0.174 with a tight stop loss
Let's see what happens

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.