$BCH
BEARISH BREAKDOWN INCOMING! 🔻📉
Bitcoin Cash is under pressure as it slides to $472.8 (-1.97%), signaling potential downside momentum from recent highs. Let’s dive into the setup:
🔍 Current Price: $472.8
📊 24h High / Low: $493.1 / $464.7
⚡️ Volume: 50.5K BCH / $24.07M USDT
🛠 Category: Proof-of-Work (PoW)
📉 KEY LEVELS TO WATCH:
Resistance:
🔼 $480 – Minor hurdle
🔼 $493 – Strong resistance zone
Support:
🔽 $468 – Immediate support
🔽 $464 – Critical zone, break below confirms further drop
🔻 TRADE SETUP (SHORT IDEA):
Entry: $472 – $475 zone
Take Profit (TP):
🎯 TP1: $468
🎯 TP2: $464
🎯 TP3: $455 (extended)
Stop Loss (SL): $481 above resistance zone
📘 RISK MANAGEMENT:
💡 Use 2% of your capital per trade to manage drawdown effectively. Stick to your SL—don’t fight the trend!
⚠️ Trend favors bears—wait for a clean retest near resistance before shorting!