BCH/USDT – 30M – BUYThe combination Bitcoin Cash/Tether (BCH/USDT) moves from the bearish trendline up.
The bullish trend upwards to the next resistance level at 478 is expected.
Caution: A possible trend reversal in the direction of the support level at 469.7 could occur.
Consider stop-loss settings accordingly.
Moreover a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. which could be a positive signal. The currency pair could go up.
Moreover a ‘Hammer’ chart pattern is existing. The candles form ‘Hammer’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Hammer’ heading up is 60% (Bull Market) & 59% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 505.8 |
| 2nd High | 491.1 |
| Next High | 478 |
| Current Price | 469.400000000 |
| Next Low | 469.7 |
| 2nd Low | 459.8 |
| 3rd Low | 454.3 |
478 – 475.6 – 470.7 – 469.7 – 470.8 – 459.8 —
472.600000000 – 470.600000000 —
47.549936274679 – 40.260791822503 —
– —
478 – 1773759600
Trading Signals: CRYPTO – BCH – BCH/USDT – USDT – Hammer – – –