BCH looking primed for a bearish reversal for many reasons:
clearly in bearish setup on TD Sequential
RSI currently overbought
Strong descending triangle nearing the end, break down soon
supported by 20 and 50 period SMA on 4 occasions now. Support weaker than ever.
Short below 0.041
TD Sequential just hit a bearish 9, doing 1-4 candle correction (price flipping) after breaking current support line. Expecting new Setup to emerge in the upcoming few days.
Critical lines of support drawn (blue). Strong bearish trendline (green). Not expecting a breakout of the trendline in such a macro bearish market.
Potential swing/bull trap up to...
Blue support line drawn at 318. Green resistance trendline drawn, very strong resistance plus bear market for all of crypto on macro scale.
TD Sequential just hit a bearish 9. Expecting 1-4 day correction (price flipping) until new setup emerges. New setup unlikely to break resistance trendline
Not seeing new support till at least 200 level. Will short on a...
