$BCH BCH complete trading plan
Direction: short-term pullback and dip-buy for long
Entry range: 272-274
Stop loss: 264
First take profit: 286
Second take profit: 298
On the 4-hour chart: earlier, it surged quickly from 199.7 to a peak of 305.7. After hitting the high, it began to fall and enter a consolidation range. MACD has already turned negative and upside momentum is weakening. However, the middle Bollinger band at 271.7 is still acting as support, and the current price is right around the middle-band level.
If the middle-band support holds, there’s a chance for a second attempt to test the previous high. If there is a valid breakdown below 264, the structure of this upswing will be damaged, and price will likely probe lower further.
Control your position size—don’t go heavy on this speculative setup.
Direction: short-term pullback and dip-buy for long
Entry range: 272-274
Stop loss: 264
First take profit: 286
Second take profit: 298
On the 4-hour chart: earlier, it surged quickly from 199.7 to a peak of 305.7. After hitting the high, it began to fall and enter a consolidation range. MACD has already turned negative and upside momentum is weakening. However, the middle Bollinger band at 271.7 is still acting as support, and the current price is right around the middle-band level.
If the middle-band support holds, there’s a chance for a second attempt to test the previous high. If there is a valid breakdown below 264, the structure of this upswing will be damaged, and price will likely probe lower further.
Control your position size—don’t go heavy on this speculative setup.
