$BCH: Strong Rejection at Trendline Resistance: $BCH Short Entry
SHORT SETUP BCH
Entry: $282.000 - $283.000
Stop Loss: $298.000
Take Profit: $251.500 (2R)
Key Levels: Support $272.400 | Resistance $298.000
Technical Analysis for $BCH: Price sits below EMA9200, RSI at 32, MACD histogram negative and ADX 59 confirming a strong downtrend. Orderbook shows modest bid bias, but the bearish structure dominates. Target short entry around 282283, stop at 298 (4H resistance). Riskreward 1:2 aims for ~251, with 272.4 support as the key invalidation level ahead.
Market Context: BTC is in a bearish 4H trend and the broader market is broadly negative, reinforcing downside pressure on BCH.
SHORT $BCH
SHORT SETUP BCH
Entry: $282.000 - $283.000
Stop Loss: $298.000
Take Profit: $251.500 (2R)
Key Levels: Support $272.400 | Resistance $298.000
Technical Analysis for $BCH: Price sits below EMA9200, RSI at 32, MACD histogram negative and ADX 59 confirming a strong downtrend. Orderbook shows modest bid bias, but the bearish structure dominates. Target short entry around 282283, stop at 298 (4H resistance). Riskreward 1:2 aims for ~251, with 272.4 support as the key invalidation level ahead.
Market Context: BTC is in a bearish 4H trend and the broader market is broadly negative, reinforcing downside pressure on BCH.
SHORT $BCH