BCHSUDT Daily S/R| Swing High| Price Action| S/R Flip Retest
Evening Traders,
Today’s second analysis – BCHUSDT- breaking key Daily S/R, holding it as support will solidify the level.
Points to consider,
- Price Action Impulsive
- Daily S/R Support (S/R Flip Retest)
- Swing High Target
- Oscillators neutral
- Increasing Volume
BCHUSDT’s immediate price action is impulsive above Daily S/R, a confirmed S/R Flip Retest will allow us to maintain a bullish bias.
The current target is swing high; exceeding this level will increase the probability of a trend continuation.
Both oscillators are currently neutral, trading in their respected bullish control zones. This is an indication of strength in the immediate short term.
The volume profile is evidently increasing, must sustain for continued follow through.
Overall, in my opinion, BCHUSDT is a valid long with defined risk; price action is to be used upon discretion/ management of trade.
Hope this analysis helps!
Thank you for following my work
And remember,
‘’No on‘’No one strategy is correct all the time’’.- John Paulson
Today’s second analysis – BCHUSDT- breaking key Daily S/R, holding it as support will solidify the level.
Points to consider,
- Price Action Impulsive
- Daily S/R Support (S/R Flip Retest)
- Swing High Target
- Oscillators neutral
- Increasing Volume
BCHUSDT’s immediate price action is impulsive above Daily S/R, a confirmed S/R Flip Retest will allow us to maintain a bullish bias.
The current target is swing high; exceeding this level will increase the probability of a trend continuation.
Both oscillators are currently neutral, trading in their respected bullish control zones. This is an indication of strength in the immediate short term.
The volume profile is evidently increasing, must sustain for continued follow through.
Overall, in my opinion, BCHUSDT is a valid long with defined risk; price action is to be used upon discretion/ management of trade.
Hope this analysis helps!
Thank you for following my work
And remember,
‘’No on‘’No one strategy is correct all the time’’.- John Paulson