๐ Analysis:
Support Retracement: Bitcoin Cash (BCH) has undergone two substantial upward waves, followed by a retracement to a key support area.
Entry Range: Consider entering the trade around $500, aligning with the current support level.
Profit Targets: Aim for profits at $630 or $750, potential resistance levels.
Risk Management: Set a stop-loss based on daily closing prices, just below $445, to mitigate potential losses.
๐ Trading Strategy:
Entry: Initiate a long position near the identified support level of $500.
Targets: Take profits at the specified resistance levels of $630 or $750.
Risk Control: Implement the provided stop-loss to manage downside risk, ensuring capital preservation.
๐จ Note: Stay informed and adapt your strategy as market dynamics evolve! ๐๐ #BCH #TradingPlan #CryptoAnalysis ๐๐
Support Retracement: Bitcoin Cash (BCH) has undergone two substantial upward waves, followed by a retracement to a key support area.
Entry Range: Consider entering the trade around $500, aligning with the current support level.
Profit Targets: Aim for profits at $630 or $750, potential resistance levels.
Risk Management: Set a stop-loss based on daily closing prices, just below $445, to mitigate potential losses.
๐ Trading Strategy:
Entry: Initiate a long position near the identified support level of $500.
Targets: Take profits at the specified resistance levels of $630 or $750.
Risk Control: Implement the provided stop-loss to manage downside risk, ensuring capital preservation.
๐จ Note: Stay informed and adapt your strategy as market dynamics evolve! ๐๐ #BCH #TradingPlan #CryptoAnalysis ๐๐