BCHSV What's Next?: Strong Ascending triangle + Trading Plan

TRADING STRATEGIC .
BINANCE:BCHSVUSDT

Study Range:
-Chart Time frame: 1H
-Timeframe 4H-1D


TRADE MANAGEMENT:

• Trade entry: 105.50~106.50 (Blue Rectangle)
  
• Stop Loss: 104.95.
  

-Targets:

• Moon: 125.30
  

Risks/Rewards:
-Risk/Reward Ratio: 39.38
-Risk per trade: 0.47%

Trade active

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reversal pattern, I did my best to fit them into the pattern. interesting trend projection

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SV is preparing for its next big move, if we break to the upside 104.00 and 110.00 are my targets if we break the channel trend-line I will be looking to buy at the next support lvl.

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we still doing some sideways consolidation. however cycles are oversold.

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follow up of the XABCD pattern, just for learning purpose.

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Possible double bottom forming

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be aware of the descending triangle and its target, if we break market structure it could get ugly for SV

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I will be re-entering tehe trade around 62 to 65 and i will trade that support bounce mean while ill be waiting on the side lines.

Comment:

BCHSV Has successfully bounce from 64.00 and has broken the top of the channel, i could expect some consolidation and then a small upward correction before continuation of the down trend.

Trade closed: target reached:

Comment:

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SV is trading above 1 of the resistances. if SV cant to break purple channel we could potentially go down. Here is the two potential scenarios

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SV has surpass resistance now facing a major down trend. I will be watching to see how react to this levels