Long
Bitcoin Cash Finally BREAKING OUT?
AS noted in my previous post, this MONSTER consolidation pattern, aka descending triangle, has been ranging for 10 days now, since that insane run from 300 to 800 in 3 days.
This monster looks primed to break out again. And this is an easy one if it gets going with some good volume.
Breakout: Around 630/650, breaking out of downtrend line of consolidation pattern
STOP: below 585, support lows of consolidation
Target 1: 800 (61.8% Fib retracement of Aug 17 - 27 decline)
Target 2: 900 (old high range)
Good luck!
-----------------
!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
This monster looks primed to break out again. And this is an easy one if it gets going with some good volume.
Breakout: Around 630/650, breaking out of downtrend line of consolidation pattern
STOP: below 585, support lows of consolidation
Target 1: 800 (61.8% Fib retracement of Aug 17 - 27 decline)
Target 2: 900 (old high range)
Good luck!
-----------------
!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
Note
Testing that lower range of the channel. Could breakdown here. Keeping my stop tight. I'm out if it breaks 570/580 range.
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Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
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start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.