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.
Midterm forecast:
While the price is above the support 0.0652, beginning of uptrend is expected.
We make sure when the resistance at 0.0980 breaks.
If the support at 0.0652 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg...
We are doing Analysis of BCHBTC on Daily Timeframe .
With the Help of trend line , I have made trend line
Support and Resistance Levels
Note: This is only for Educational Purpose this is not an Investment advice.
Please support the setup with your likes, comments and by following on Trading View.
Thanks
Adil Khan
Midterm forecast:
. While the price is above the support 0.0655, beginning of uptrend is expected.
. We make sure when the resistance at 0.0980 breaks.
. If the support at 0.0655 is broken, the short-term forecast -beginning of uptrend- will be invalid.
. We will close our open trades, if the Midterm level 0.0655 is broken.
Technical analysis:
. The Falling Wedge...
Midterm forecast:
*There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.1210 would begin in Midterm.
Technical analysis:
. The RSI bounced from the support #1 at 35 and it prevented price from more losses.
. While the RSI downtrend #2 is not broken, bearish wave in price would continue.
. Price is below...
New trading suggestion:
*The price is in a range bound and we forecast the uptrend would resume.
*There is still a possibility of temporary retracement to suggested support line (0.1210). if so, traders can set orders based on Price Action and expect to reach short-term targets.
*If you missed our first HUNT, you have a second chance to buy above the suggested...
New trading suggestion:
*The price is in an up trend and we forecast the uptrend would continue.
*There is still possibility of temporary retracement to suggested support lines (0.1610) & (0.1480), if so, traders can set orders based on Price Action and expect to reach short-term targets.
Entry signal:
Signal to enter the market occurs when the price comes to...
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