BCH/USDT – 30M – BUYThe pair Bitcoin Cash/Tether (BCH/USDT) jumps from the ascending trendline up.
A continuation of the uptrend up to the next resistance at 565 will continue.
Caution: A possible counter-trend in the direction of the support level at 550.6 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Shooting Star’ candle pattern is found. The candles show ‘Shooting Star’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 570.8 |
| 2nd High | 570.2 |
| Next High | 565 |
| Current Price | 557.500000000 |
| Next Low | 550.6 |
| 2nd Low | 549.5 |
| 3rd Low | 493.8 |
565 – 570.2 – 570.8 – 550.6 – 551.2 – 556.2 —
559.100000000 – 558.400000000 —
49.397715874966 – 48.191785162239 —
– —
565 – 1771435800
Trading Signals: CRYPTO – BCH – BCH/USDT – USDT – Shooting Star – – –