$BCH /USDT Short Setup – Rejection After Spike
Market Behavior:
$BCH spiked to $540+ but immediately faced selling pressure, forming a wick and bearish candle on the 15m chart. This may signal a fake breakout and potential reversal to the downside.
Short Trade Setup
Entry Zone: $535 – $537 (if price shows weakness or retest fails)
Stop Loss (SL): Above $542
Target Points (TP):
• TP1: $528
• TP2: $520
• TP3: $514 (24h low)
Technical Insight:
Sharp upper wick = strong rejection from $540 zone
Immediate red candle = buyer exhaustion or trap
Low time frame RSI may be overbought
If price fails to reclaim $538+, downside is likely
Pro Tip:
Use tight stop loss above $542 and monitor for volume drop or bearish crossover. A rejection candle near $537 confirms weakness.