$BCH - Crossroads. Play both sides?

We have a triangle consolidation and the way it looks, it can break in either direction. A breakout above $170 will create an upward spike to the 1st Target@$200 (50 Day EMA resistance). Similarly a breakout below $150 will confirm a further correction to $130 (0.618 Fib Support) or lower

Interestingly, you can take both long / short trades at the same time now with stop loss of -$10 and target of +$30 as the current price is almost in the middle@$162

In the mid-term, I still expect a move to $250-$270 to complete the larger ABC waves. My previous post/chart is still in play (click below chart). However, the question is do we fall a little now and then go up or just breakout now

Here is the short-term bearish chart (exact opposite).

Another view. There is a case to be made for this because how we got rejected last night at the $167 level and also I'm not seeing a 5 wave impulse move, it appears to be a 3 wave ABC move

Commento:

It worked! Went Long and short at the same time!. Longs got stopped out at $155 while shorts are continuing with profits. As I said, this was possible due to the triangle consolidation and price being in the middle

Commento:

Love it when targets get hit precisely. We hit our 1st target@$130 which is 0.618 Fib. This should offer support for now (and bounce to 140-145), however I believe will go down more $100-$110 is 0.786 Fib.

So play safe. Use SL

Our original bearish chart

Here is a breakup of the waves

Commento:

We got support in the 0.618-065 Fib area, a good place for a turn around. However, from the waves, there appears to be one more wave.

I took profits and closed my short positions and will watch how this goes