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While Elon is out there saying TSLA is too high, Roger Ver is likely saying, "this Bitcoin Cash Price isn't HIGH enough!" Let's take a look at BCH's uptrend and see if we can't find a nice setup that can make us profit if shorts cover on a break above the range high.
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1. Directional Bias is showing an Uptrend (Teal bar color) for BCHUSDT on the hourly chart.
2. With this strategy we want to look for entries off retests of bullish orderblocks in an uptrend.
3. Our goal is to enter around the bullish orderbock at S1 with targets of R2 and R3.
4. The logic here is that we are betting the BCH uptrend will continue and that we will see an impulsive move to the upside (potentially due to a short squeeze) before seeing a reaction to resistance.
5. A move like this would be inline with what we recently saw from Bitcoin.
6. We have placed a stop just below our entry.
7. If we do get stopped out, we will look for another reaction in the S2 area, although depending on the market structure and what the strategy says we may not be taking an entry there.
Like and Follow to help us grow family! 🎉
---
While Elon is out there saying TSLA is too high, Roger Ver is likely saying, "this Bitcoin Cash Price isn't HIGH enough!" Let's take a look at BCH's uptrend and see if we can't find a nice setup that can make us profit if shorts cover on a break above the range high.
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1. Directional Bias is showing an Uptrend (Teal bar color) for BCHUSDT on the hourly chart.
2. With this strategy we want to look for entries off retests of bullish orderblocks in an uptrend.
3. Our goal is to enter around the bullish orderbock at S1 with targets of R2 and R3.
4. The logic here is that we are betting the BCH uptrend will continue and that we will see an impulsive move to the upside (potentially due to a short squeeze) before seeing a reaction to resistance.
5. A move like this would be inline with what we recently saw from Bitcoin.
6. We have placed a stop just below our entry.
7. If we do get stopped out, we will look for another reaction in the S2 area, although depending on the market structure and what the strategy says we may not be taking an entry there.
Order cancelled
We got a downtrend indication from Directional Bias (Red bar color) and such our trade setup was canceled after the first Red bar color was plotted.We only trade the trend.
If any entry is missed we will wait for the next one.
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.
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.