BCH/USDT Accumulation Pattern (Wyckoff)
BCH/USDT Wyckoff Accumulation:
✅ Phase A & B sideways move lasted for about 1 month, with multiple retests of support.
✅ Phase C retest springs a directional move to the upside.
✅ Phase D awaiting break off structure with push to the upside
❌ Phase E
Additional Indicator Analysis:
- RSI shows that we are entering oversold territory. If momentum remains, look at possible upthrust potential -> see April 16th and May 4th: somewhere between 35 and 45%.
- MACD has just had a golden cross, 3 days prior.
Targets for the month of September:
Retest of previous highs $1158 and $1490
BCHUSDT
✅ Phase A & B sideways move lasted for about 1 month, with multiple retests of support.
✅ Phase C retest springs a directional move to the upside.
✅ Phase D awaiting break off structure with push to the upside
❌ Phase E
Additional Indicator Analysis:
- RSI shows that we are entering oversold territory. If momentum remains, look at possible upthrust potential -> see April 16th and May 4th: somewhere between 35 and 45%.
- MACD has just had a golden cross, 3 days prior.
Targets for the month of September:
Retest of previous highs $1158 and $1490
BCHUSDT
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