English (UK)
Long

# There is a probability of resuming the uptrend in BCHUSD

BITFINEX:BCHUSD   None
206 views
206
Midterm forecast:
While the price is above the support 190.10, resumption of uptrend is expected.
We make sure when the resistance at 637.00 breaks.
If the support at 190.10 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:
There is a divergence in RSI and price between the trough at 460.75 on 2018-08-14 and the trough at 405.45 on 2018-09-12, the probability of downtrend continuation is decreased and the probability of resumption of uptrend is increased.
The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
The RSI resistance #2 at 60 is broken, so the probability of resumption of uptrend is increased.
While the RSI uptrend #3 is not broken, bullish wave in price would continue.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 51.

There is a possibility of temporary retracement to suggested support zone (400.0 to 279.8). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (400.0)
Ending of entry zone (279.8)

Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:

Take Profits:
TP1= @497.75
TP2= @637.00
TP3= @748.60
TP4= @832.10
TP5= @945.70
TP6= @1148.10
TP7= @1292.20
TP8= @1610.45
TP9= @1773.75
TP10= @1986.65
TP11= @2890.00
TP12= @4088.05
TP13= Free
http://www.ForecastCity.com

★ For having access to the latest forecasts at the time they publish, the latest NEWS, and many other privileges, please subscribe to the ForecastCity.com
Thank you ForecastCity, for being such a grate hope for all the traders.
Sometimes I really wonder how amazing you are.
God bless you
fxniki
@fxniki, You're welcome. Our pleasure
God bless you too.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית