Writing

🔴 $BCH SHORT SETUP — RESISTANCE REJECTION IN PLAY 📉

$BCH looks overextended after the recent bounce and is now approaching a major resistance zone where sellers may step in.

📊 Trade Plan

💰 Current Price: ~$212.46 🔻 Entry Zone: $216 – $224 🛑 Stop Loss: $232

🎯 TP1: $200 🎯 TP2: $188 🎯 TP3: $173

Bearish signals:

❌ Price nearing strong resistance

❌ Overextended short-term structure

❌ Possible distribution phase forming

❌ Risk of rejection from supply zone

Setup overview:

Bears are watching for weakness inside the entry zone and a potential rejection back toward lower support levels.

Visual breakdown:

Key levels:

🔴 Resistance Zone: 216 – 224 🟢 Support 1: 200 🟢 Support 2: 188

Invalidation:

⚠️ A strong breakout above $232 would weaken the bearish thesis.

Risk Management:

🛡️ Respect stop loss

🛡️ Scale out at targets

🛡️ Avoid oversized leverage

Trade the setup, not the emotions. 📊

$BCH #BitcoinCash #crypto #ShortSetupb #trading