As you can see, the fork indicating last 1 move is broken and the current valid one is a schiff fork which is used to estimate possible S/R levels on the corrective move, the move seems to have extended so as i could say we need a complete ABC before a new bearsh move could go, i might be wrong and the price follows the long term previous trend-line that is drawn...
Whenever you see this consolidation below the 0.25 it's time to get ready. This has found support on that $600 area which is a great SL placement.
BCH has already tried to break through this 0.25 resistance 2 or 3 times (where arrows are), and the volume coming in, combined with current bullish market setniment on all shitcoins suggests that it's going to push...
Taking a chance here with the fake Bitcoin. 4H range lows were previously swept. Unswept highs above. Ultimate target is $711 but I think the current target is a fair area to take profits. Below the lows of $621 I think we go lower to the high 500's. Hopefully we don't wick the SL.
Top down analysis from Monthly , weekly , daily and intraday timeframes.
Angles of Analysis:
1: Technical ( No news)
2: Price action( Behaviour around high time frame candle closes, and wickes on 1hr and lower time frames)
3: Indicators(EMA trendlines, volume, Momentum Oscillator, Money Flow Index )
$BCH form a triple top pattern.
to complete this pattern price have to close a 4h candle below the support zone.
If it happen #BCH will drop to $440 and $420
But if this zone support the price strongly, $BCH can go up to $430 and $440 again .
_As you can see, its now landing on a great support
_Heikin Ashi has appeared a green candle again while landing on that 1202-1220
_A Stoploss would expect to be at $1210.32
_While aiming for that $1283.62 level
_Within the 2.66/1 risk/reward ratio as it has a thick cloud acting as resistance up there
_TDI appear as oversold over the 30mn TF
_Macd has slowly...