Bitcoin Cash Consolidation: New Low or Structural Wave 5?

30 thg 9, 2017

We have an interesting situation developing in the BCHUSD chart :)
I will be updating this thread as we go, but for now, please have a look at the data. Which way do you think it will go (please include WHY)?

30 thg 9, 2017

Ghi chú

1 thg 10, 2017

Giao dịch đang hoạt động

2 thg 10, 2017

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We are below all the key fibo levels bar one formed by the rally from $300. I can envision a breakout to the downside around $396 if you want to short with momentum.

3 thg 10, 2017

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We are at the $396 that i've been talking about. We should see a nice selloff if we breach this area.

4 thg 10, 2017

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Sub-key fibo level is broken!

4 thg 10, 2017

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Uptrend line ahead along with the end of the potential long box at $358. After that I would watch $327, $300, and $277. Look for strong bullish divergence on the 1HR.

5 thg 10, 2017

Đóng lệnh: đạt mục tiêu

Hit trailing stop at $359 this morning :)

5 thg 10, 2017

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In the future:

6 thg 10, 2017

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Keeps retesting long box support/resistance at $359

6 thg 10, 2017

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Keep in mind we are at the wave 1 support level:

6 thg 10, 2017

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Oh and doesn't this pattern look familiar?

9 thg 10, 2017

Giao dịch đang hoạt động

9 thg 10, 2017

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Trading below a structural wave 1 support is very bearish. This likely means there will not be a structural wave 5. Are we in a decline?


Yeah, so fibo support evaporated and so, too, did the price...these kind of wicks can indicate that price wants to go in that direction. The 0.11 fibo turned into resistance so...

9 thg 10, 2017

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Trading range at $301 beached! Wahooooooo. Min TP ahead.

10 thg 10, 2017

Đóng lệnh: đạt mục tiêu

10 thg 10, 2017

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Almost reached MIn TP yesterday, trailing stop triggered at $301 tho.
Next potential trade:


Notice bullish RSI herel:

10 thg 10, 2017

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A potential long trade... lots of resistance tho!

12 thg 10, 2017

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We fell out of the long box, so I'm thinking short again.

12 thg 10, 2017

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What a tight range we have here, eh? I'm watching this very carefully for an upward break. Don't rush if it snaps one way or the other as you will have opportunities to get on board.

13 thg 10, 2017

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MAN still stuck here...Too much long box resistance and trading range support. Eventually one side will get exhausted... Also, see that wick dip? That's why you don't want to jump the gun here.

14 thg 10, 2017

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16 thg 10, 2017

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We are at the downtrend line, a decision has to be made?

17 thg 10, 2017

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Hmmmm... A long is still countercyclical here (I've added another downtrend line). This could simply be a rally to the fibo resistance. I am not convinced this is structural change yet... Here's the game plan.