Weekend rest, no more broadcasting, but after thinking about it, I still want to share the points discussed in yesterday's live stream in written form.
First is BTC, the daily chart touches the upper band, and there have been two divergences on the hourly level. In the short term, 94000 is the peak, and it won't reach 96000. The short position I posted missed entry by 200U; since it has already moved away, I won't mention it further. The focus is on BCH.
I have been paying attention to BCH for a few months now; its trend is very regular, just oscillating on the weekly chart, and it has now reached the upper end of the range.
The high points in recent years have been between 600 and 700. As a fork of BTC, it has not made new highs in the past two years. Now that the market is overall bearish, it is showing an unusually strong performance, seeming to push higher, but the time left for it in the market is probably limited.
Whether from the perspective of patterns or the current overall market environment, BCH is currently a very good target for shorting.
Based on this, I have formulated a long-term shorting plan. The levels can even be used repeatedly as short-term positions. I recommend setting aside a separate position and using leverage within 5 times.
BCH Long-term Short
Entry: 593~603.
Add Position: 636
Take Profit: Short-term: 560~520~480, Long-term: below 400
Stop Loss: above 660
(Yesterday there was also an aggressive entry at 586; during the live stream on the evening of the 4th, it reached this entry point, and today it has also moved to around 560. From a short-term perspective, the profit is sufficient.)
