Justin W. 4:45 PM
BCHABC/USDT Analysis (TradingView Idea)
After a strong rejection from the bearish order block, price is consolidating above the Point of Control and above the current demand zone.
Price could potentially make a double bottom here off of the High Volume Node/Point of Control and see a re-test of the local highs at 137.
As long as price holds this support level, I will be an interested buyer if we see the trend flip bullish and get some decent volume.
If we can re-claim the EQ zone at 143 then things will look quite nice for an upthrust to 174.
Need to See:
1. 8HR Heikin Ashi Trend Flip Bullish
2. Volume Spike
3. No closes below 130
Off of Support Test: 137 - 143
Off of Reclaiming EQ: 155 - 174
Reminder: This idea is invalidated by a close below 130. Should that occur, our next levels of support are 120. Below that we're shorting it to the ground.