BitcoinCash: Short Term Sell & a Key Support for Buys

In this video I cover two potential trades - a short term one, and a huge buy one! Price is being moving into a rising channel finding resistance at the upper parallel, dropping into an impulse move. A pending bearish bat pattern is being developing which is the short term opportunity I was talking about. A bearish RSI divergence is adding to our short term setup. Our main view though is bullish. In case price retraces to the lower parallel of the channel, we should start watching for a buy setup completion and see if you join the rocket aiming for the $2800 level or even higher. At the lower parallel of the channel we have confluence with previous structure, which makes our support even stronger to hold.

Feel free to like, comment and share your thoughts.

Trade with care,
John

評論:

Price broke above the correction and never reached the lower parallel of the channel. Support steps up and we focus on a buy setup at the sliding parallel shown in the chart below