Bitcoin Cash SV (BCHSVUSDT) is giving out a very clear reversal signal, so it is very likely to move up and generate some good profits.
You can see the line I have marked on the chart as stop loss (brown dotted line).
Price went below this line just to quickly bounce up, forming a Doji candlestick (marked light blue on the chart). When this candlestick shows up at the end of a trend, it is a clear reversal signal.
Bitcoin Cash SV has been retracing since the 22nd December, and now you can consider this retrace complete.
Volume increased significantly compared to past days.
Profits potential on this bounce can range from 35 to 80%.
Targets, stop loss and additional details marked on the chart.
Condition for change: If BCHSVUSDT moves down and closes below $61. The above signals would be invalidated and a new analysis is needed.
A view on a shorter time frame:
- The signal here is different but it can be seen that a reversal is on its way.
Note: We use a manual stop loss:
Thanks a lot for reading.
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