BCH/USD SHORTBCH /USD SHORT
**Still waiting for entry**
**Will enter on confirmation of confluences starred below**
Here are my reasons for looking to enter a short position on BCH /USD.
The confluences for my entry:
✓ Strong overall downtrend
✓ Rejection of major key level order block
✓ Rejection at the 0.5 Fibonacci Retracement level
✓ TD Sequential printing a 9 on the 2HR
✓ Double top on smaller timeframes
✓ Crossing back below the 55EMA**
✓ Stochastics momentum heading down**
✓ RSI Momentum heading down**
I will a short position with a stop loss above the wick of the reversal candle/TD Sequential 9
** this is not financial advice **
BCHUSD.P trade ideas
Bitcoin Cash (BCHUSD): Harmonic Bat Pattern Spotted
Potential harmonic bat pattern formation is spotted on BCHUSD 8H chart.
The completion point of the pattern lies within a strong demand zone 468 - 502.
From that zone, a pullback will be expected.
Closest levels for goals:
613
715
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Bitcoin Cash, Developed Descending-Channel, Potential Breakout!Hi,
Welcome to this analysis about Bitcoin Cash, we are looking at the 4-hour timeframe perspectives. Bitcoin Cash has moved into an interesting constellation as it developed this main descending-channel-formation in the structure with the coherent wave-count within and the waves A to D almost already completed. Now Bitcoin Cash is moving forward with the protracted wave E that will complete the whole wave-count and when Bitcoin Cash manages to bounce within the confirmational-bounce-cluster marked in blue this can be the possible origin for a channel-breakout to the upside, therefore it is highly necessary that Bitcoin Cash rightly manages to bounce and show up with further bullishness to the upside, otherwise when falling below the lower boundary the bullish scenario can also invalidate, it will be an important development ahead.
In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the market.
BchSeems to be setting up for a nother pop above resiatnce. We can’t seem to find support on top of the patterns resiatnce but have popped it earlier this morning. This resiatnce comes in at 724. We need to find some support up here to show that we have finally exited this consildation. Don’t be faked out or fooled just keep an eye on 724 area also recent rejection came in at 735 so let’s see if we can see anything happen above that level also
🚀₿𝙞𝙩𝙘𝙤𝙞𝙣 𝘾𝙖𝙨𝙝 at a crossroads ... 🤷♂️●● Mine scenario
● BCHUSD (COINBASE):🕐1D
"Fig.1"
The rise from the orthodox bottom of the triangle ④ formed a five-wave structure in the form of a diagonal, at least this variant of count can be applied to this structure in the context of the highest degree. The subsequent three-wave advance, which is labeled (2) , supports this idea. Cancellation of the scenario and, as a consequence, activation of the alternative wave count, - upon the breakout of the orthodox bottom ④ , the level "invalid" ..
● BCHUSD (COINBASE):🕐4h
"Fig.2"
"Fig.3"
Agree, the wave structure is extremely complex and its interpretation is ambiguous. Figures 2 and 3 show you two options for count, both of which are conducive to continued growth, the only question is: is the correction (2) formed or we are expecting a deeper rollback within the "black" count?
From the level of $ 600 there was a recommendation for a long-position. Upon reaching the levels of $ 880-1020 , we may partially reduce the volume of the long-position and prepare for a price decrease within the framework of an alternative count.
●● Alternative scenario
● BCHUSD (COINBASE):🕐1D
"Fig.4"
The global alternative wave-count suggests a large triangle in the primary wave ④ , within which a three-wave advance of the sub-wave (C) is expected.
The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.