Main trend. Term 1 week. From the breakdown of the big triangle, the pumping is more + 500% Rollback. As a result, a channel was formed. Work in it. The potential is very significant.
Under the idea, I consolidated my ideas of working on this coin over the past year, both medium-term and local in nature.
BCH/USD Mid-term work in the channel.
Under the idea, I consolidated my ideas of working on this coin over the past year, both medium-term and local in nature.
BCH/USD Mid-term work in the channel.
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+50%
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BCH/USD Main trend. Breakdown of the channel. The important zone
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The graph is logarithmic. This is a secondary trend. That is the fall of the price since May 19, 2021, from the pumping of +666%. The trend is a pronounced downtrend in spite of the significant local pumping of +50-80% within the downtrend.
At the moment the price is in a local consolidation near the area where the trend reversal started last year.
I used a marker on the chart to show options for the logical start of the price movement (direction).
Positive.
If the secondary trend breaks through (red line) and the price fixes above the 218-300 zone—the trend reverses and the price goes up (at least, the decline stops and turns into a sideways trend). Bitcoin goes up.
Negative.
A breakout of this zone is unfortunate. Reality of the descending flag (or part of its targets).
Semblance of a repeat of the 2018 fractal structure (see main trend idea for understanding). Let's hope it doesn't come to that... As it will mean that the similar will be not only on BCH, but also on the whole market, i.e., double top working out on bitcoin , if you don't understand what I mean.
At the moment the price is in a local consolidation near the area where the trend reversal started last year.
I used a marker on the chart to show options for the logical start of the price movement (direction).
Positive.
If the secondary trend breaks through (red line) and the price fixes above the 218-300 zone—the trend reverses and the price goes up (at least, the decline stops and turns into a sideways trend). Bitcoin goes up.
Negative.
A breakout of this zone is unfortunate. Reality of the descending flag (or part of its targets).
Semblance of a repeat of the 2018 fractal structure (see main trend idea for understanding). Let's hope it doesn't come to that... As it will mean that the similar will be not only on BCH, but also on the whole market, i.e., double top working out on bitcoin , if you don't understand what I mean.
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✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: www.instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2
