🐳 Where does the money go?
$BCH has seen 5 consecutive bearish candles on the daily chart, with a cumulative decline of -15.2%.
Based on the order flow, most of the capital that entered in these past few days is likely trapped. When the rebound reaches near their cost basis, they may run into sell-pressure from breakout/relief selling. The key is whether there is a large order stepping in at low levels—if nobody is there to absorb, the sideways-to-down drift could continue.
So far today: +1.82%. If it then turns against you, what will you do?
#BCH
Data is for reference only; you decide your own trades.
$BCH has seen 5 consecutive bearish candles on the daily chart, with a cumulative decline of -15.2%.
Based on the order flow, most of the capital that entered in these past few days is likely trapped. When the rebound reaches near their cost basis, they may run into sell-pressure from breakout/relief selling. The key is whether there is a large order stepping in at low levels—if nobody is there to absorb, the sideways-to-down drift could continue.
So far today: +1.82%. If it then turns against you, what will you do?
#BCH
Data is for reference only; you decide your own trades.