BCHUSD Next Buy Points

BCHUSD Next Buy Points
Looks to be consolidating once more above old structure to
left on chart, moving inside a rectangular flag formation.
Closer up, it's moving down a pair of parallels and dancing
along between the two blue lines of fixed support, with pin
bars of interest at 1600 showing...it would be helpful (to
buyers at least) if it these supports gave way and it broke
lower to 1539-1516 range again, where it's a buy with stops
under the big green lower parallel. It is very unlikley that BCH
will drop below that line in the days ahead.
It is also a more speculative buy right here, simply because
the stop is so close it's worth the risk, which is 50/50...buy at
1600, stop at 1589.
And finally it's a buy/increase when the upper parallel of
the small flag is broken to the upside, needing a pulse of
buying power there and green candles emerging, looking to
buy on first pull-back with stops under the parallel - maybe
1640, depending on when the break occurs.

Comment:

This has finally broken down below the supports we were looking for to set up decent risk reward longs again. It should come back to the levels we last bought at a few day ago again, at 1539-16 range where it becomes a buy with stops placed under the big green parallel. Any test of that line can be viewed as the perfect buy point with stops a little below that line, if we see it.
There is support here at 1575 and it will try to turn here, but hopefuly fail - to give us a chance from lower down. But if it can hold up here and find buyers the next buy point will come on a break above the upper minor parallel, which should be followed with stops left under that same line when broken to upside.