Bitcoin Cash Big Short

After reaching the high at 811.00 for 1BCH the market reversed and started the great journey to the deep of the financial markets. We can use tick data only for several days and this analysis can be based on the 15m time frame only. This time frame is not so reliable as hourly or daily charts, but we can try to spot possible reversal and entry levels. The market broke 270.00 support level and moved lower. Now the price is at 250.00 level. It's a round number level and probably we'll see short term upward movement to one of SMAs. If we look at the indicators, we'll see their confirmation of a strong downtrend. If the market continues to fall, we'll have to watch for price action near the whole numbers like 200 and 100. These levels will be able to stop and reverse the market if they have fundamental support. But we also must be ready for falling much lower than 100.00 level. If you search for buy opportunity, wait when the market breaks SMA100 (yellow line). It will be a signal for a possible trend reversal. It will be your chance to buy on the bottom and start building positions for long term trading.