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BCHUSD Expanding Triangle with Consistent Flat Lows

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Avatar for rafaelken1989
Written by   52
4 months ago

Bitcoin cash is showing a consistent demand region for 4th consecutive day.

Its current 4H structure seems having an expanding triangle with that demand region as flat low.

Any sudden price break down below that level will will change its pattern to a complete expanding triangle with both highering highs and lowering lows suggesting wide price volatility.

I based my stop loss in that scenario.

Entry will be observed on the next re-test and hoping prices bounces back up again to further validate BCHUSD's current 4H wave behavior!

Upon success on the long entry, it is wise to take profit on the next higher high.

Personally, I love BCH's price structure now! Simple, easy and straight-forward!

Original article written by me:

https://www.finlogix.com/analysis/20220917/bchusd-expanding-triangle-with-consistent-flat-lows

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Avatar for rafaelken1989
Written by   52
4 months ago
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