Looking at the $BCH /USDT 4-hour chart:
1. Price Movement: The price has surged to 442.6 USDT, up by 17.9%. The recent high reached 448.9, which indicates strong buying pressure.
2. Moving Averages:
EMA(7) (yellow): 419.0, showing a strong upward trend and reflecting short-term bullish momentum.
EMA(25) (pink): 389.8, below the EMA(7), confirming bullish momentum over a medium-term.
EMA(99) (purple): 366.8, below both shorter EMAs, suggesting that the overall trend has recently turned bullish.
3. Volume: There has been a significant increase in trading volume, supporting the upward price movement. This indicates active participation from buyers, strengthening the price rally.
4. RSI: The RSI is at 90.1, which is in the overbought zone, indicating the potential for a short-term correction as it signals the asset may be overextended.
5. Order Book: The buy-side (60.72%) is dominant over the sell-side (39.28%), showing buyer strength. However, given the high RSI, some selling pressure may appear soon.
6. Sentiment and Conclusion:
The trend is clearly bullish, but caution is advised due to the overbought RSI level. If the price consolidates around 440–450, it may gather momentum for another leg up.
A motivational line for trading: "Stay focused and disciplined; momentum rewards the patient."
Consider setting stop-loss levels to protect gains if the trend reverses. Keep an eye on volume and RSI for signs of consolidation or correction.
1D ( Timeframe)
This one is one of my Fav and has made me a fortune in the past
Looking for the same this time
We will trade the range here and the IDEA that this cup need an HANDLE
And then the CnH will be Ready for the breakout
RANGE (420->786)
220->420 ΤΡ1
420->620 ΤΡ2
620->786 TP3
786->888 TPX
786->1786
SL 210
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