BCHUSDT a Cup and Handle is forming?/Trading Strategy
Updated
BCHUSDT4H trend chart
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Price has build a Cup pattern, and there is a potential handle in 4H chart.
If price can break out Fib(1) which is 625.85 and stand firm on it, the handle will be completed.
The cup and handle pattern is a bullish signal, so our trading strategy as below.
*Notice the pink zone, which is long-term resistance, probably give pressure on price, even there is a C&H pattern.
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Profit Targets:
a) 651.7~662.1----Fib(1.272~1.382)
b) 684.55----Fib(1.618)
c) 720.8-----Fib(2)
Stop losses:
a) 588----Red horizontal ray
b) 600.5----Red horizontal ray(for those who don't wanna take more risks)
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Trading is a reflection of yourself. Learn more daily and be ready for every opportunity.
Have a nice trading!
Note
This potential cup and handle pattern didn't complete while ETH plunged.
So we don't have chance to open position as analysis.
Let's wait for another great pattern to look for opportunity.
Have a good day!
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→Join Teaching Group for free!(PM me)
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