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Bitcoin Cash
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BCH/USD Secondary trend. Wedge. Area 96 Artemis

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The graph is logarithmic.Time frame is 3 days. Secondary trend. The wedge is in the final phase of its formation. The price is in its band near the support area of 96. Local double bottom 72% may be formed inside the wedge. Its confirmation and embodiment will bring the price closer to the wedge resistance breakthrough (red line). The price is near the area of historical lows of $77. The price is now $115 Percentage from the key local zones shown on the chart. Remember, the price is now within the wedge band.

Coin in coinmarketcap: Bitcoin Cash

Line chart.

snapshot

Local trend. Double Bottom Zone.

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Main trend was shown earlier in this trading idea.

BCH/USD Main trend. Breakdown of the channel. The important zone
BCH/USD Main trend. Breakdown of the channel. The important zone



Main Trend. Linear chart.

snapshot
Note
snapshot
Note
snapshot Local trading and pivot zones.
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snapshot
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snapshot Triangle formation in the zone of the accumulation channel of 300 days (10 months). The price is sideways, in the so-called “saw”. Soon the dénouement.

High probability of break up and continuation of the uptrend. It is quite possible after collecting a stop loss. If down, then to the support of the accumulation channel, unless there is something extraordinary in all markets (“black tale”).
Triangle formation in the zone of the accumulation channel of 300 days (10 months). The price is sideways, in the so-called "saw". Soon the dénouement.

High probability of break up and continuation of the uptrend. It is quite possible after collecting a stop loss. If down, then to the support of the accumulation channel, unless there is something extraordinary in all markets (“black tale”).
Note
snapshot Haven't updated in a while, since I haven't followed it. Everything is classic. Accumulation zone, price squeeze. Takeout of the crowd stop loss before the reversal. U-turn, from the reversal level of 109.84 (liquidity) Takeout to the area of 95.85 (reversal, marked in yellow). Pamp with a stick of about +100% (no passengers, relatively low liquidity). Pamp to the meaningful "level" of 196.67 (exact price, it is not important in fact 195.31)
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snapshot +131% Exit from the 372-day accumulation channel. The price is at the resistance level of 218.68% (196.67-218.68).
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snapshot About +250%. The price reached the level of 300.58 (13). Formed a classic "cup" after the exit from the accumulation zone. Soon many instruments will show themselves this way (where large volume was gained). The price is near its resistance zone (former pro-trading). Protect the profit.
Note
snapshot After a pump-exit from accumulation (trend reversal) - a pullback, which now forms a triangle, the price is cornered.

Upward breakout - this triangle acts as an ascending pennant (high probability).

Downward breakout - formation of a descending channel, which conditionally can act similarly with the resumption of the upward movement by the ascending channel.

An important point is the breakout of resistance of the dynamic downtrend (marked in red).
Note
snapshot
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snapshot 3 months (90 days) the price after formation of triangle formation and exit from it to the horizontal plane (very rare phenomenon) is squeezed in the narrow horizontal channel 18% between 216.66 and 255.85. The average is 237. This is +90.46% of the average price of the main accumulation of the position.

Everything is the same as before, in longing rationally stops on purchases. If you work in short, the stop is obligatory. There can be false breakdowns from this price squeeze zone, on both sides there is a huge amount of #stopLoss (fuel).
Trade closed: target reached
snapshot more than +100% from a safe entry on a breakout of the 255.85 resistance price squeeze zone or more than +120% from the average price of the local $237 set (capitulation, liquidity gathering on growth on profit).

From the average price of the main accumulation of 372 days of 124.96 level - more than +340%. Now the price in the moment is $396.66

Globally very high potential, naturally with understandable, normal pullbacks in a rising trend.
SpartaBTC
✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
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BCHBCHUSDbchusdtbitcoincashcryptocryptocurrenciesCryptocurrencycryptotradingPivot PointsTrend Analysis

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
BCHBCHUSDbchusdtbitcoincashcryptocryptocurrenciesCryptocurrencycryptotradingPivot PointsTrend Analysis
SpartaBTC
✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2
Also on:

Related publications

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.