Bitcoin Cash is threatening to breakdown last major support

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Patterns: descending triangle
Horizontal support and resistance: S = 0.092 | R = 0.0927
12 & 26 EMA’s (calculate % difference): 12 = currently acting as resistance | 26 = -0.37%
50 & 128 MA’s: 50 = -0.68% | 128 = -4.40%
FIB’s: 0 = 0.092
Candlestick analysis: Bearish spinning top
Ichimoku Cloud: Fullish bearish with Tenkan resistance
TD’ Sequential: R-3 = R-2
Visible Range: Low volume below 0.084. High volume node at 0.1
Bollinger Bands: If not super squeeze then damn near
Trendline: Connect 5/7 to 7/18
Daily Trend: chop
Fractals: UP = 0.1 | DOWN = 0.091
On Balance Volume: New low/bear div’
ADX: Just made a new high after lower highs and higher lows.
Chaikin Money Flow: Resistance < 0 and turning back down
RSI (30 setting): Just made new all time low on daily
Stoch: Bearish cross and turning back down

Summary: If/when 0.09 breaksdown then there is very little support below. Still to early to open a short yet, due to being at support. Good time to set a stop order to open at 0.888. Stop loss = 0.1025 and point of control on the VPVR gives me high confidence that the stop will be safe.

Trade active:

Entered 3/4ths of my desired position at an average price of 0.0906. Order to add the rest at 0.0889.

Trade active:

1 hour bear flag just broke down. Great time to get fully positioned!

Trade closed: stop reached:

My position was stopped out at the top of this last bounce. I was overly confident in a continued sell off after 0.09 brokedown and I moved my stop to 0.0914. If you have done as I said and not as I did then you are likely still holding onto this position and are well into the money.

Comment:

Since I am no longer in this position I will not be updating this thread. If you are still holding onto your short then I would move it down each time a new Williams Fractals prints above the price (Up Fractal). Good luck!