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Long

BCH LONG 8H TF Pennant Formation

BINANCE:BCHUSDT   Bitcoin Cash / TetherUS
Hello Viewers.
The market has tested a short due to US binance exchange conditions. Fewer coins of Group like LINK adn VET have shown a great bull market scenario. Due to which the scenario for majors like ETH BCH LTC XMR are likely to be seen in the coming bull market phase.
One such indication for Bitcoin Cash can be noted as formation of possibly both pennant and Ascending triangle symbolizing as bullish market is ahead for majors.

Entry is only upon Confirmation of the Breakout to be seen and if it stays above 50 RSi , previously it has been supported by a dynamic resistance of MA200 on 8H chart.
Potential targets are $355 and $377 for acquiring profits for early stages, best sell falls around $390 in which we can see some consolidation.
Stop Loss is just at the lower ray of pennant which is a safe side.


Keep in touch.
Enjoy!

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