BCHUSDT
4H trend chart
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Price has build a Cup pattern, and there is a potential handle in 4H chart.
If price can break out Fib(1) which is 625.85 and stand firm on it, the handle will be completed.
The cup and handle pattern is a bullish signal, so our trading strategy as below.
*Notice the pink zone, which is long-term resistance, probably give pressure on price, even there is a C&H pattern.
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Profit Targets:
a) 651.7~662.1----Fib(1.272~1.382)
b) 684.55----Fib(1.618)
c) 720.8-----Fib(2)
Stop losses:
a) 588----Red horizontal ray
b) 600.5----Red horizontal ray(for those who don't wanna take more risks)
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If you like this analysis, give it a like and leave a comment below to share your perspective or let me know what crypto you want to see!
Trading is a reflection of yourself. Learn more daily and be ready for every opportunity.
Have a nice trading!
4H trend chart
-
Price has build a Cup pattern, and there is a potential handle in 4H chart.
If price can break out Fib(1) which is 625.85 and stand firm on it, the handle will be completed.
The cup and handle pattern is a bullish signal, so our trading strategy as below.
*Notice the pink zone, which is long-term resistance, probably give pressure on price, even there is a C&H pattern.
-
Profit Targets:
a) 651.7~662.1----Fib(1.272~1.382)
b) 684.55----Fib(1.618)
c) 720.8-----Fib(2)
Stop losses:
a) 588----Red horizontal ray
b) 600.5----Red horizontal ray(for those who don't wanna take more risks)
-
If you like this analysis, give it a like and leave a comment below to share your perspective or let me know what crypto you want to see!
Trading is a reflection of yourself. Learn more daily and be ready for every opportunity.
Have a nice trading!
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🌕Discussion group: t.me/rextalkcrypto
✨Bybit sign up: www.bybit.com/register?affiliate_id=12787&group_id=36093&group_type=1
💡Sign up through link
→Join Teaching Group for free!(PM me)
So we don't have chance to open position as analysis.
Let's wait for another great pattern to look for opportunity.
Have a good day!