BCHUSD chart readingOleg Alexandrov
BCH is acting stronger than crypto market during the current moment. Let’s read its chart.
- 1) I always claim: uptrends start from fake down-move (SLKB) in 90% of cases. here is Trap / SLKB before up-trend. Professionals did kill SLs of buyers under ‘safe’ level 200.00 before pushing price higher.
- 2) Demand bar
- 3) No Supply bar
- 4) Demand Bar. While you have NS+DB+NS+DB … – sit calm and wait while your longs go higher and higher.
- 5) China-news-powered Pump with breaking above level of resistance (dotted level)
- 6) #EVRT (built-n weakness)
- 7) No-Supply during testing of breakout level.
- 8) #DB – Demand bar as the response to #NS
- 9) Here is the bar when BCH demonstrated its relative strength in comparison with TOTAL index (orange line).
What’s the outlook / idea?
I suggest BCH operators are interested in Fake penetration of 300 round number (a reversed version of bar number 1).
Yes, You Can Become a Professional Chart Reader
To build success in any business, you should rely on things that really work.
In Chart Reading Method, they are three: The Law of Inequality, The Law of Supply & Demand, The Law of Effort & Result.
Download free books, to understand how can you apply the Laws and convert charts into profitable setups daily!
Enter your email to Download books
No spam is guaranteed.