BCHUSDT : Potential Long Setup – Trendline Support Falling Wedge
BCH has been trading in a well-defined ascending channel on the 4H chart. After multiple higher highs and higher lows, price recently corrected to the channel support and formed a falling wedge — a bullish reversal pattern.
Current Price: ~$528
Entry Zone: $520–$540
Stop Loss: Below $495 (clean invalidation below channel support)
Targets:
TP1: $560
TP2: $590
TP3: $605
TP4: $646
TP5: $693
Potential Upside: +32% from entry zone
Analysis:
The falling wedge breakout near channel support confirms buyer interest.
Volume drop during the correction phase supports bullish reversal conditions.
Risk-reward ratio favorable near the channel low.
Trade Plan:
Start building position between $520–$540 using DCA. Keep SL below $495. Expect gradual move toward the upper resistance zones if the breakout sustains.
Watch for breakout confirmation above $540–$550 for momentum entry.
DYOR | Not Financial Advice
Current Price: ~$528
Entry Zone: $520–$540
Stop Loss: Below $495 (clean invalidation below channel support)
Targets:
TP1: $560
TP2: $590
TP3: $605
TP4: $646
TP5: $693
Potential Upside: +32% from entry zone
Analysis:
The falling wedge breakout near channel support confirms buyer interest.
Volume drop during the correction phase supports bullish reversal conditions.
Risk-reward ratio favorable near the channel low.
Trade Plan:
Start building position between $520–$540 using DCA. Keep SL below $495. Expect gradual move toward the upper resistance zones if the breakout sustains.
Watch for breakout confirmation above $540–$550 for momentum entry.
DYOR | Not Financial Advice
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.