In this article we are going to discuss current price of BCH, important levels to hold, the momentum in general and possible targets. Please remember that this is not a financial advice, we recommend you to do your own research and to trade wisely.
The image below represents 1hr chart of BCHUSDT.
BCHUSD is currently trading above 200EMA on 4hours and daily chart, which means that the general trend is bullish.
On the one hour chart we can observe a previous support line of 273.79$ and a previous resistance line tested around 290.27$. Current price is 284.17$. MACD indicator recently turned bullish.
The first resistance to test is the trend line around 287$, the second resistance will be around 290$. If BCH fails to breakout of resistance levels, we are expected to range between 278-283$.
Trading Ideas:
A long entry if BCH is able to close 1hour candle above 287$
A short entry is not recommended due to the general trend.
Always remember that a trend is your friend.
This was a brief technical analysis of BCH. Would appreciate a like, comment and a tip.
Thanks for your attention,
Crypto Army