RETEST OF THE RECTANGULAR FLAG
After completing the head and shoulder based on the previous analysis on the 27th of March 2018( see https://ci.covesting.io/tradeidea/bchusd-2) , the right shoulder gives another opportunity to buy and make little profit as we await for the huge head and shoulders to be fully completed.
On the two hours time frame, the right shoulder is also showing an inverted head and shoulders with bullish move on the ichimoku cloud settings.
Price has broken out of the neckline and moving up to reach a near target of $1200.
The ichimoku metric setting using the doubled cloud setting is slightly bullish.
for more on INVERTED HEAD&SHOULDER, kindly check the previous analysis on BCHUSD using the link sited above.
Technicals suggests that price will likely reach a high of $1150usd to $1200
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.