Bitcoin Cash - Coinbase All Time High Volume Spike
Over the past week, BCH has seen numerous large volume spikes one of which resulted in an All Time-High volume on Coinbase.
These large volume spikes were no doubt fuelled by uncertainty and volatility presented across the market by the most recent Bitcoin and Ethereum drop and could very well present an opportunity for short to medium term profit.
As you can see from my Technical Analysis, BCH short-term price action is currently sitting in a steep falling wedge due to the most recent market sell-off.
This type of steep falling wedge is very unsustainable if we factor in how low BCH is from previous highs and price action in September.
This presents us with an opportunity to scale in around support levels or after the falling wedge has clearly been broken in hopes of short-term profit.
The following values are purely my short-term trading values for BCH and should not be construed as financial advice.
Accumulation Zone 1 (support) - 0.07500sats
Accumulation Zone 2 (support) - 0.06750sats
Accumulation Zone 3 (breakout) - No specific value, wait for clear breakout.
Stop Loss - 0.06400sats
Targets - 0.09000sats, 0.10400sats, 0.11500sats
Clear ascending support formed on MACD on the 4h, and 8h.
Due to the recent high volume spikes if you wish to follow along with this trade you must ensure you stay up to date with real-time price action and practice efficient risk management.
These large volume spikes were no doubt fuelled by uncertainty and volatility presented across the market by the most recent Bitcoin and Ethereum drop and could very well present an opportunity for short to medium term profit.
As you can see from my Technical Analysis, BCH short-term price action is currently sitting in a steep falling wedge due to the most recent market sell-off.
This type of steep falling wedge is very unsustainable if we factor in how low BCH is from previous highs and price action in September.
This presents us with an opportunity to scale in around support levels or after the falling wedge has clearly been broken in hopes of short-term profit.
The following values are purely my short-term trading values for BCH and should not be construed as financial advice.
Accumulation Zone 1 (support) - 0.07500sats
Accumulation Zone 2 (support) - 0.06750sats
Accumulation Zone 3 (breakout) - No specific value, wait for clear breakout.
Stop Loss - 0.06400sats
Targets - 0.09000sats, 0.10400sats, 0.11500sats
Clear ascending support formed on MACD on the 4h, and 8h.
Due to the recent high volume spikes if you wish to follow along with this trade you must ensure you stay up to date with real-time price action and practice efficient risk management.