bchusdt

#BCHUSDT
▪️Trade type: Buy Limit order
▪️Entry price: 215.3
▪️Take profit: Open
▪️Stop loss: 199.8
▪️Valid: Until cancelled
Comment:
Found a great entry point on the BCH, Bitcoin Cash, crypto asset chart. At the moment we're seeing a local corrective downward move. During this correction, large order blocks have accumulated, signaling that large capital has started entering the market, meaning the downside potential is already limited. Below the current price there's also a fundamental support area of 214.1–210.4. Given the current formation, I'm expecting a retest of this area, a speculative long squeeze, after which the asset's price will show a good rally. So we're considering a buy from the border of this support range with a limit order. BCH lost 13% over the week, but the decline is happening on declining volume, 40% below the monthly average, sellers are running out of steam, and this is a classic sign of sell exhaustion. Meanwhile, the decline happened without a single piece of negative news about the project itself: the reason is the general altcoin rotation and risk-off mode ahead of US inflation data and the Fed meeting. And when an asset falls not because of itself but because of the market, it also bounces back with the market — only more sharply. The price is sitting 95% below its all-time high and is approaching the zone from which a 40% rally began this summer; historically, BCH bounces impulsively from such depths. On Wednesday is the Fed decision, and a rate hike is already priced in with an 87% probability, meaning uncertainty will be removed after the event and the market will start buying the fact. It fell without news, it will bounce without warning.
On risk: The stop-loss is initially placed according to the trading algorithm's rules beyond the 207 level, accounting for a likely false breakout. This approach provides extra protection and limits risk. The minimum target is a return of the price to the 233 level, where the stop-loss will need to be moved to breakeven. This tactic will protect the open position.
On targets: The first target is the 249.7 level, where we'll take partial profit. Looking more broadly, the price could break through this level and continue rising — with good momentum we could reach a retest of the 276 level, and possibly higher. I suggest leaving the take-profit open and watching the movement formation. Either way, the potential is good, the risk-to-reward ratio is satisfactory.
We're not setting an expiration date for the order to open — an entry point like this shouldn't be missed. As soon as it triggers, the position will be actively managed. The scenario complies with all rules of the trading algorithm. Let's go, dear traders! Wishing everyone profit and a good start to the new trading week 🤝