Bitcoin Cash Finally BREAKING OUT?

AS noted in my previous post, this MONSTER consolidation pattern, aka descending triangle, has been ranging for 10 days now, since that insane run from 300 to 800 in 3 days.

This monster looks primed to break out again. And this is an easy one if it gets going with some good volume.

Breakout: Around 630/650, breaking out of downtrend line of consolidation pattern
STOP: below 585, support lows of consolidation
Target 1: 800 (61.8% Fib retracement of Aug 17 - 27 decline)
Target 2: 900 (old high range)

Good luck!

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MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.

评论:

Testing that lower range of the channel. Could breakdown here. Keeping my stop tight. I'm out if it breaks 570/580 range.