BCH Analysis #26; (Dec/27/2021) Crypto To The Moon. #fibonacci

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2 years ago

In community: Bitcoin Cash Hub(0cd1)

Topics: Crypto analysis, Crypto To The Moon, BCH, Bitcoincash

DISCLAIMER: I am not a financial advisor nor certified analyst. All contents discussed on this blogpost are solely my own personal views and for Trading education/entertainment purposes only . Do your own research and due diligence.

With that being said, let's get into it;

1 Day Timeframe;

Today we're up at about $454.68 on BCH. Using the 1 Day timeframe, we all clearly see that we've just broken the trend line and we're still on the "base level" you could say as we haven't yet still increased in price that much as we're still on the base level of the breakout.

But in no time, we'll find 1 BCH priced about $600+ as there's a resistance zone there.

The Resistance zone in the chart is coloured pink in bold.

1 Hour Timeframe

Using the 1 Hour timeframe, from where we stopped yesterday there has been some bearish movement and we finally found ourselves landing on the support zone and then bouncing right back up.

During this movements, a little trend line In the form of a symmetrical triangle was formed right above the candlesticks. But as of the time of making this analysis, it has already being broken and that too at a bullish point.

The little line which is coloured light blue is the trend line I'm talking about.

The #Fibonacci Sequence Using The 2h Timeframe

Now this is the famous "Fibonacci sequence" in use. With the use of fibonacci sequence, I'm guaranteed yet again that we'll soon be pricing about $600+ as the 2.618 point of the fibonacci sequence lands on the expected resistance zone which is also around $600+.