Long

BCH/BTC 6h (Binance Spot) Descending triangle near breakout

Updated

Bitcoin Cash is preparing for next big move, I believe it will be upwards.

Current Price= 0.015772
Buy Entry= 0.015898 - 0.015408
Take Profit= 0.017398 | 0.018854 | 0.021621
Stop Loss= 0.014495

Risk/Reward= 1:1.5 | 1:2.75 | 1:5.13
Expected Profit= +11.11% | +20.41% | +38.08%
Possible Loss= -7.43%

Fib. Retracement= 0.5 | 0.786 | 1.272
Margin Leverage= 1x
Estimated Gain-time= 480h

Trade active

All entries filled

That was a crazy dip on Bitcoin Cash and crypto market in general!
Almost got stopped but price bounced back just on time.
Could have caught it lower but it's okay, time to look up now I believe 🙏🏼

Note

Turned out to be a falling wedge after all

#BitcoinCash just broke out but still no big move, let's be patient enough.
I updated SL lower, making R/R= 1:1 for first target, to avoid being stop hunted on a possible wick down!

Note

Still waiting for the move up

I believe it's just a question of time for #BitcoinCash but I fear to be stop hunted before it actually pumps.
If so I would try to catch it lower, until then i'd rather wait before doing anything...

Trade closed: stop reached

Stopped out with -11.11% (1x) yesterday

Well, it happened exactly as I was fearing, stop hunted then bounced and broke out of the falling wedge.
I was tempted to move SL slightly lower for Bitcoin Cash but it was a risky move.
Too bad but at least I wasn't wrong about the pump, I'll try to catch it again on a possible pullback!

TradingOn

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