🚀 $BCH ALERT: Bulls Defending the MA60 Support! 🚀
Crypto fam, let's look at the 15m chart for $BCH /USDT. Bitcoin Cash is showing some resilience after a tough week! 👇
Here is the CryptoSensei Breakdown:
🔹 Price is currently at 229.2, holding strong above the 1H MA60 at 228.8. The bulls stepped in after a dip to 228.0!
🔹 However, check the Order Book: 57.64% SELL vs 42.36% BUY. There is a sell wall above us, so the upside might be limited in the short term.
🔹 Macro numbers show BCH is down -54.93% in 1 Year. We are trading at a massive discount, but the trend is still heavy.
🔹 We are seeing a short-term V-shape recovery on the 15m chart, which is great for scalping!
My Trade Setup:
I am taking a LONG scalp here, targeting the recent highs. This is a quick momentum play, not a long-term hold.
🛑 Stop Loss: 228.40 (Below the MA60 support).
🎯 Targets: 229.80 ➡️ 230.50 ➡️ 234.00
⚠️ Note: With the sell wall present, take profits early and move your stop loss to breakeven!
👇 Click the $BCH tag below to trade on Binance and catch this bounce! Are you bullish on BCH? Let me know in the comments! 💬
Crypto fam, let's look at the 15m chart for $BCH /USDT. Bitcoin Cash is showing some resilience after a tough week! 👇
Here is the CryptoSensei Breakdown:
🔹 Price is currently at 229.2, holding strong above the 1H MA60 at 228.8. The bulls stepped in after a dip to 228.0!
🔹 However, check the Order Book: 57.64% SELL vs 42.36% BUY. There is a sell wall above us, so the upside might be limited in the short term.
🔹 Macro numbers show BCH is down -54.93% in 1 Year. We are trading at a massive discount, but the trend is still heavy.
🔹 We are seeing a short-term V-shape recovery on the 15m chart, which is great for scalping!
My Trade Setup:
I am taking a LONG scalp here, targeting the recent highs. This is a quick momentum play, not a long-term hold.
🛑 Stop Loss: 228.40 (Below the MA60 support).
🎯 Targets: 229.80 ➡️ 230.50 ➡️ 234.00
⚠️ Note: With the sell wall present, take profits early and move your stop loss to breakeven!
👇 Click the $BCH tag below to trade on Binance and catch this bounce! Are you bullish on BCH? Let me know in the comments! 💬
