BCH/USDT – 1H – BUYThe combination Bitcoin Cash/Tether (BCH/USDT) breaks through the descending trendline up.
The bullish trend upwards to the next resistance line at 570.7 will continue.
Caution: A possible counter-trend in the direction of the support level at 540.8 is also possible.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Current target is 570.8 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance zone at 570.7 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Three Outside Up’ candle chart pattern is found. The candles form ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 581.5 |
| 2nd High | 570.8 |
| Next High | 570.7 |
| Current Price | 566.500000000 |
| Next Low | 540.8 |
| 2nd Low | 538.7 |
| 3rd Low | 493.8 |
570.7 – 564.5 – 564.9 – 540.8 – 538.7 – 550.6 —
563.500000000 – 562.900000000 —
58.102188948599 – 52.675791284588 —
– —
570.7 – 1771603200
Trading Signals: CRYPTO – BCH – BCH/USDT – USDT – Three Outside Up – – –