BCCETH

BCCETH

PAIR:BCCETH

Maintained a rectangular resistance and support level. The RECTANGULAR BOTTOM CHART PATTERN.

Rectangle bottoms, so called because price enters the pattern from the top, are mid list performing chart patterns.
Price trend Downward leading to the chart pattern.Prices have flat tops and flat bottoms, crossing the pattern from side to side following two parallel trendlines.


Two near horizontal trendlines bound price action, Price should touch each trendline at least twice using distinct peaks and valleys.
Volume Trends downward at least 66% of the time(not shown) and would possibly Breakout Downward 55% of the time.
Since the breakout can be in any direction, wait for price to close outside the trendline before taking a position.
Price ranging between the 0.5fibonacci and 0.382fibonacci retracement level with more consolidation within this level.
Technicals suggest that entire bull trend is waiting patiently as it rectangular chart pattern is completed.
VERDICT:
 BUY: 1.82290sats(eth)
 SELL:1.9sats(eth) up to to 1.967sats(eth)
 STOP LOSS:1.72sats(eth)

Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.

$COV HODL

 

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