Well, BCH coin has 2 bullish CME gaps that we have not yet filled while price is still below the 200EMA struggling to breakout from it.
With lots of uncertainty on the chart currently, we have put 5 possible trades that we are going to look for on Bitcoin Cash.
Buy Trades: Possible Moves
Buy Entry 1: Once we see a breakout from the 200EMA line and we see a successful re-test of it, we are going to look for long up until the first bullish CME near $385.
Buy Entry 2: If we see markets to dip more, then BCH will follow with testing to local lows, where we will be looking for some kind of market structure break to occur, which would give us the confidence for upward movement.
Sell Trades: Possible Moves
Sell Entry 1: If we see a breakdown from local support at $320 and sellers manage to secure it with proper re-test, we will be seeing a dip towards the $275.
Sell Entry 2: Once we see the fill of bullish CME and first signs of weakness, we are going to look for market structure breaks on smaller timeframes like 30M, where then we would be looking for movement towards the 200EMA (for a quick re-test).
Sell Entry 3: If we see a huge optimistical push currently that would break both Bullush CMEs and reach the highest one, then we will be looking for a quick rejection there without any MSB to form, just pure volatility hunting!
Get ready, and let's see what we will end up with.
Swallow Team
With lots of uncertainty on the chart currently, we have put 5 possible trades that we are going to look for on Bitcoin Cash.
Buy Trades: Possible Moves
Buy Entry 1: Once we see a breakout from the 200EMA line and we see a successful re-test of it, we are going to look for long up until the first bullish CME near $385.
Buy Entry 2: If we see markets to dip more, then BCH will follow with testing to local lows, where we will be looking for some kind of market structure break to occur, which would give us the confidence for upward movement.
Sell Trades: Possible Moves
Sell Entry 1: If we see a breakdown from local support at $320 and sellers manage to secure it with proper re-test, we will be seeing a dip towards the $275.
Sell Entry 2: Once we see the fill of bullish CME and first signs of weakness, we are going to look for market structure breaks on smaller timeframes like 30M, where then we would be looking for movement towards the 200EMA (for a quick re-test).
Sell Entry 3: If we see a huge optimistical push currently that would break both Bullush CMEs and reach the highest one, then we will be looking for a quick rejection there without any MSB to form, just pure volatility hunting!
Get ready, and let's see what we will end up with.
Swallow Team
Trade closed: target reached
🚨 Authentic Traders
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Keep an eye on us and you will not regret it. 😉
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⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
Telegram: t.me/+fiEDSn7M9pJkODA0
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.
🚨 Authentic Traders
⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
Telegram: t.me/+fiEDSn7M9pJkODA0
⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
Telegram: t.me/+fiEDSn7M9pJkODA0
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.