$BCH #BCH 📉
Direction: SHORT
Entry zone: 229 to 232
Stop loss: 237
Target 1: 225
Target 2: 220
Bitcoin Cash is trading near 230 dollars, down 1.93 percent in 24 hours and down 15.58 percent in 7 days, one of the weakest majors this week, inside a range of 226.88 to 236.32 dollars, with 98.5 million dollars of 24 hour volume, and the recent closes show sellers keeping price pinned low, 228.50, then 228.79, then 229.57, then 230.68, then 230.46. 🔴 My reading is that BCH is in a steady down move, because a near 16 percent weekly drop with closes drifting lower step by step on a red evening is momentum, not a shakeout, and the coin is sitting close to its 24 hour low near 226.88 dollars. A short from the current zone, with a stop above 237, targets 225 first and then 220 if sellers break the range low. A push above the stop kills the idea without debate.
Futures trading is risky. Trade small, use a stop loss, and do your own research. This is my reading, not a guaranteed signal.
Does Bitcoin Cash break 225 first, or bounce back above 237? 🤔
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