📉 BCH Short Setup in Focus 🔻
Trading Plan:
Bias: Short
Entry: 564 - 558
SL: 588
TP1–TP3: 545 / 530 / 515
Technical Analysis:
The analysis on the 4-hour chart indicates a potential bearish continuation. After failing to sustain momentum above the 607 high, the price has entered a consolidation phase below key short-term moving averages, suggesting weakening buying pressure. The price is currently being rejected by the EMA(7) and EMA(25) and is testing the EMA(99) support zone. A confirmation signal for this short setup would be a decisive 4-hour candle close below the 565 level, which would signify a breakdown of the current structure. This view is supported by a bearish crossover on the MACD indicator.
Invalidation:
Only a break and hold above the 590 resistance area would invalidate this bearish outlook.
