Things are turning interesting here.
Decreased volatility for the last few days is an indication of volatile price change is in the near future.
We are more likely to have a rally, than a decline, as we are finishing what appears to be a micro 1-5,abc pattern.
If the price continue to stabilize, this will lead for the price action for Alt coins accumulation,...
I believe a inverse head & shoulders pattern is developping.
I'm looking for the price to retrace to $309 and then buy some $BCH in hope for the price to go back to $318 which would validate the pattern, and smash through the moving average resistance up to $336.
$BCH is a sleeping beast, I am betting on it.
Ok don't listen to all those complicated charts, here's the simple thing :
We have confluence of the 50 weekly MA as support, also with this trendline from last december lows.
For me personally, I have a bullish bias and I go with the uptrend, so I would like to see a retest of the $300 levels and watch closely the price action (in hope to go long). Needless to...
The current price is bouncing between two ranges marked by red and green arrows, we have resistance from 21 Weekly average (330) and support from 50 moving average (309), one of them has to give way
RSI recently got rejected from top of the channel (red arrow) and now below 50, likely will go to bottom of channel
The bearish rising wedge is an obvious pattern...
Bitcoin cash has been trading this triangle since the December 2018 low. I am looking for a high volume breakout with conviction to confirm pattern otherwise I will be trading my targets on my previous chart linked below.
Ascending triangle breakout target: $800s
Elliot Wave targets: $520-$960 (boxes on chart)
Reasons for open position:
- Price broke trendline
- Price locally change trend to downward
- Sell zone by trend
- Target is 323.75$
Guys, if you like the idea please put like button and if you have your own ideas you can share it in comments, I would like to see it.
Also, you can ask me questions which you have in comments! Please no need to...
Hello traders investors and community, today i want to share with you an example on how to analyze with the wyckoff market theory.
There is an interesting example of an wyckoff distribution which i detected in BCHUSD, formed the...