BCHABC/ USDT potential 6%- 21% swing play in days ahead. few options below we will go over.
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option 1: we just beak out and with our channel width we target the upper midline which both have confluence ... midline(RED) would be a safer target but, this chances the target for 4.63% and a 1.43 r/r option trade.
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Option 2 : the preferable option we see first a down break fakeout based on our fractal which has had consistency through this channel based on the blue triangles upper pointing and down pointing ( i draw trend lines by bodies so if you use wicks you may not have these fakeout wicks in ur channel) So if we bounce off the bottom wait for a confirmation as always don't just buy at the exact bottom of this fractal use it as a guide .....
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target 1 Bottom of our old fork (blue zone)confluence of 0.618 level ..167.00 area.
Target 2 : 173-175 ... rough area of old fork lower mid zone (Green under the red line)
Target 3 : just the midline as a target forks typically want to gravitate to the midline if it's on the bottom or the top low confluence in this target though only 1 sign
Target 4 : upper mid(green zone above the midline) to potentially the high zone in the fork (blue area above the midline). on the upper mid we have only that as a confluence but, we on the high zone top have 1.618 fib to use a confluence aswell but, this is a very high target. Target 1 should be the main area you look at since we could bounce down another time.
Target 2 : 173-175 ... rough area of old fork lower mid zone (Green under the red line)
Target 3 : just the midline as a target forks typically want to gravitate to the midline if it's on the bottom or the top low confluence in this target though only 1 sign
Target 4 : upper mid(green zone above the midline) to potentially the high zone in the fork (blue area above the midline). on the upper mid we have only that as a confluence but, we on the high zone top have 1.618 fib to use a confluence aswell but, this is a very high target. Target 1 should be the main area you look at since we could bounce down another time.
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R/R
STOP : under old wick 152 zone
Target 1 : 1.66 R/R
Target 2: 3.32 R/R
Target 3: 4.95 R/R
Target 4: 6.09 R/R
Risks are you're own nothing here is finical advice
STOP : under old wick 152 zone
Target 1 : 1.66 R/R
Target 2: 3.32 R/R
Target 3: 4.95 R/R
Target 4: 6.09 R/R
Risks are you're own nothing here is finical advice
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fractal playing out as stated before buy at the breakout after the dump since if btc goes this will go deeper.
Order cancelled:
popped off didnt go down first late update