BCHUSD 2 hour idea. Simple wedge pattern.
Kommentera:
Again here with BCHUSD 2.36% now and realizing my short term trend lines were not accurately capturing the bigger picture. So we see here trending the vector of the 50 MA that also there is a potential for a move lower in the short term. I have indicated two potential pathways forward. You will also notice that on this time frame the whole structure is being supported nicely on the 200 MA and this has been tested in the red circles.
Kommentera:
You can also see that the price point structure is making a very similar move to the Nov 15th area although in this case it does have the support now of the 20 MA so that could change the pattern more to the upside and is why I have indicated a sooner mover higher (smaller green arrow)