BCHUSDT - Pull back to broken lines
Updated
The ascent was powerful but now Pivot formed on the roof of channel.
The evidence shows that we are in a channel and now we are moving in a downward direction to test the midline.
Signal line of CSRS turned to red that is a bearish sign.
In 15min resolution, a negative divergence forms at the channel roof, which is another confirmation.
I think pullback to the broken line is the ultimate goal, not the midfield.
In the mentioned range we also have fibo 61% and of course dynamic supports of fiboMA.
*During the time I was thinking and writing the price dropped as 2$ :|
The evidence shows that we are in a channel and now we are moving in a downward direction to test the midline.
Signal line of CSRS turned to red that is a bearish sign.
In 15min resolution, a negative divergence forms at the channel roof, which is another confirmation.
I think pullback to the broken line is the ultimate goal, not the midfield.
In the mentioned range we also have fibo 61% and of course dynamic supports of fiboMA.
*During the time I was thinking and writing the price dropped as 2$ :|
Trade active
I think we will have another downward movementTrade closed: target reached
After hitting our target, it goes upTrade active
Its crossed over from resistance price entered to a new uptrend
Trade closed manually
Volume decreased and a divergence detected in lower frames.I think we will see another pullback to latest resistance which broken.
Note
I will continue the analysis in another new idea..so this will not update anymoregood luck
Related publications
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.