Short

Updated

BCH bearish divergence and failed to close above cloud

On daily time frame yesterday candle didn't close above the cloud proving a failed rally
We also have a lower volume and a Regular bear divergence suggesting us to short

Note

Same with the BCHUSD pair
Bull strength is weakening

Note

While looking at the past rallies of BCHUSD pair
we see that bch showed the same behavior, low volume - higher price - momentum decreasing
This is a recipe of a bearish trend

Note

snapshot

Note

I forgot to put the chart in the first comment where i talk about BCHUSD pair
Here it is

snapshot

Note

Shorted BCH here at 0.174 with a tight stop loss
Let's see what happens

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.