Bitcoin Cash. A flat and head with shoulders
In the previous review on BCHUSD, we wrote that there was a buy signal, but there was no growth.
And indeed, now there is no signal to buy: MA cross again turned to sale.
These are classic signs of a flat: frequent changes of direction of the trend-tracking indicator, fluctuations in a small price range with a constant change in the direction of motion, interlacing of the fast and slow moving averages with each other.
However, in addition to the narrow flat trend, that’s not very good for trading, there is something else.
The graphical pattern "Head with shoulders".
You can try to work with it:
- open a position on decline when the price moves below $ 1135
- open a position on increase when the price moves above $ 1625
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