A sweet Falling Wedge pattern is here and already broke out. The market currently testing it's resistance and hodling it's support. Targets already given.
A bullish divergence is also there in longer time frame.
Your trade from this point til 5-15% with tight Stop-loss below trend line around 4-5% or up-to your capacity.
Hello guys, we had analyse BCH/BTC market and found falling wedge pattern and had drawn target price as per pattren breakout and got small bearish divergence and market may move till D-wave. As we know falling wedge is a bullish pattern but market condition is not good but you can trade according to per market breakout and can book decent profit.
Need to close strong above 75000 level with volume and strong weekly close if fails to do so on next 3-4 weeks can see good supply then prices can drop towards 50000-40000 zone in next 4-5 month .
Bigger Picture:-
Supply & Demand Zones are marked on the chart.
Supply Zone in Red.
Demand Zone in Green.
If Breakout above 49000 - Target 62500 - Stoploss 45000
If Breakdown below 44500 - Target 31500 - Stoploss 48500
Some Volume is seen in Buying.
However good volume is required for Breakout to sustain.
Reversal area is market with a yellow line.
Rounding...
Yesterday date March 24th candle was a manipulation candle. Only Buy or sell after the high or low gets taken out.
There is a supply zone on top of that candle. Will look for going short in the supply zone if I get some selling signal.
In between market will remain very choppy.
I'm not seeing anything good or energic in btc so be same, i would say it's better not to trade till we don't any good price action.
DISCLAIMER:
I'm still leaning/beginner, So if you go and trade according to my analysis then be careful, I'll not be responsible of any of your profit or loss
