A great opportunity to buy in BCHBTC , Be ready!!

BITFINEX:BCHBTC   Bitcoin Cash / Bitcoin
Technical analysis:
  • BITCOINCASH/BITCOIN is in a range bound and Beginning of up trend is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index ( RSI ) is 38.

    Midterm forecast:
  • While the price is above the support 0.0510, beginning of uptrend is expected.
  • We make sure when the resistance at 0.1330 breaks.
  • If the support at 0.0510 is broken, the short-term forecast -beginning of uptrend- will be invalid.

    Trading suggestion:
    There is possibility of temporary retracement to suggested Buy Zone (0.1040 to 0.0645), if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.1040)
  • Ending of entry zone (0.0645)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Hammer" or "Trough", in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and special version of our "Price Action" strategy FOLLOW our lessons:

Take Profits:
TP1= @ 0.1170
TP2= @ 0.1330
TP3= @ 0.1480
TP4= @ 0.1610
TP5= @ 0.1769
TP6= @ 0.2010
TP7= @ 0.2185
TP8= @ 0.2440
TP9= Free

★ If you want to earn more profit
★ If you are tired of stress
★ If you do not have time, FOLLOW US!
Thanks so much for the lesson, I'm learning a lot
+1 Reply
@qdoc, What is the meaning of "cashening"?
qdoc PRO Koorosh_FX
@Koorosh_FX, flip from btc to bch not trading advice ;-)
Overall, I think you indicate potentially a good trade however ... a problem is that the entry zone is incorrect. BCH is in the final part of the falling wedge (you draw an upper slope above lower highs and you didn't draw a bottom slope for lower lows). If you do this - bang! You'll see that it is about to blow up.
@leoa451, I think wedge pattern is not important in compare of support levels!
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