Bring your Shiff Fork, this ones Fight Club Style. Looking in on BCHUSD reveals some Mid-to-Short Term Shiff Pitchfork (minus the pitch) action with an array of confirmations.
Price action seems to be caught in a crowd gathered pit fight, and the range is 'the low 120's' (low) and 'the high 130's' (high).
A move down from the .25 Line would likely shove price back up from a supporting .382 zone from the Lower Parallel (looking like more support in this zone than upper than upper parallel's action resistance).
A move up from the .25 Line might see a kick back to the other side from the .382 upper parallel
The back and forth has been going on a modest 18 days, and the trend is mostly sideways, with a less than ideal pitch.
What can you do? There it is. Trade the range?
Good luck, Traders. May you find yourself on the profitable side of it.
~Harbachan
Price action seems to be caught in a crowd gathered pit fight, and the range is 'the low 120's' (low) and 'the high 130's' (high).
A move down from the .25 Line would likely shove price back up from a supporting .382 zone from the Lower Parallel (looking like more support in this zone than upper than upper parallel's action resistance).
A move up from the .25 Line might see a kick back to the other side from the .382 upper parallel
The back and forth has been going on a modest 18 days, and the trend is mostly sideways, with a less than ideal pitch.
What can you do? There it is. Trade the range?
Good luck, Traders. May you find yourself on the profitable side of it.
~Harbachan
Comment:
And that's how you blast through 18 days of resistance, brute force.
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