Once again, this old script from
$BCH : a gentle blaze of red fire that has the whole crew unable to sit still, right?
The market is in a choppy, back-and-forth phase, forcing holders who are clinging to positions to break into a cold sweat, but for me, this is exactly the time to see the “performance” of the flow of money. So what do the short-term technical indicators say?
🔹 Looking at the 15-minute chart: Price is staying below both the MA(20) at 244.51 and the EMA(9) at 242.00. This suggests that the selling side is currently controlling the game in the short term.
🔹 Looking at the 1-hour chart: It’s not any better, with the MA(20) capping at 244.72 and the EMA(9) at 243.72. Clearly, the 244–245 zone is becoming a solid wall that blocks any rebound.
In actual trading, you have to watch resistance. The fact that
$BCH keeps hovering around the moving averages shows that buy pressure hasn’t reached the “ripeness” needed to break out. If it can’t soon reclaim the EMA(9) on the 1-hour chart, odds are it will continue to get pushed down to search for a lower support zone to gain momentum.
My personal setup for this trade is as follows:
📌 Position: SHORT lightly when a rebound test signal fails.
🎯 Entry: 242.5 – 243.5.
🎯 Take profit (TP): 235 – 237.
🎯 Stop loss (SL): Close the candle above 246.5.
This is a tentative trend probe trade—guys, don’t go all-in and then turn around to blame the harsh market. Your capital is yours; if you manage it in a way that burns your account, no one can save you.
According to you folks,
$BCH is accumulating to make an unexpected PUMP, or is it preparing for a deeper DUMP?
#Crypto #Trading #BitcoinCash
Note: This is my personal viewpoint, not investment advice. Trading always involves risk (DYOR).