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COIN- #bchusdt
SIGNAL- LONG
READ MY POST CAREFULLY, SIGNAL IS DOWN TO MY POST
The chart exhibits a strong bullish trend. The MACD is positive with the blue line above the red line, indicating upward momentum. The RSI is at 65.91, approaching the overbought zone, but still showing strength in the upward movement. The price is consistently above the EMA ribbon, which is also aligned in a bullish pattern with shorter EMAs above the longer ones. Volume spikes suggest increased buying interest. Overall, these indicators support a continuation of the bullish trend for Bitcoin Cash.
Based on the chart analysis, the current trend appears to be bearish. The RSI (Relative Strength Index) is at 48.05, indicating a neutral market but leaning towards a potential bearish reversal as it approaches 50. The MACD (Moving Average Convergence Divergence) is showing a slight negative divergence with a MACD line close to the signal line, further supporting a bearish outlook. The price is also trading below the Bollinger Bands middle line, indicating a weak bullish momentum and potential for further downside.
Binance BCH/USDT Liquidation Heatmap, and it indicates a bearish trend. The price is showing resistance around the 487 level, with significant liquidation pressure observed above it, which suggests a high probability of price rejection at that level. Meanwhile, there is strong support around 470, where liquidation clusters form, suggesting potential price stability near this range. The current price action reflects a downward movement, with a slight upward retracement, further reinforcing a bearish bias.
Signal-
Entry-47.1
TP-48