BABUSD(BCHUSD): Triangle and downside risk (9.06.2020)At D1, the cloud is directing downward, indicating a downtrend.
Besides, the cloud is directed downward at H4, which also indicates a downtrend.
On H4 and H1, the correction model in the form of a triangle is visually well visible.
We recommend selling on the breakdown of the downward correction model boundaries, or in case of false growth to the level of 250 (when RSI will reach overbought level at H1).
Bchsell
Bitcoin Cash: Analysis using Ichimoku 23/06/2020H4
On D1, the price fluctuates around the cloud. The triangle model of correction is visually clearly visible.
Conclusion:
Locally, we recommend selling when the RSI reaches an oversold level on the H4 and when the price will reach to the Fibonacci level of 36.8% and 23.6%.
H1
At H4, the cloud is directing upward, indicating an uptrend. At H1, the cloud is directing upward, indicating the movement within the framework of the trend for H4.
Conclusion:
Locally, we recommend buying from the Ichimoku cloud. As a result, the RSI may form a divergence, which will be confirmation for lower of the price on H4.
Good luck!
