BCH Analysis; Crypto Analysis; Crypto To The Moon Series.#64

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;

BCH 1D Timeframe

Starting of with the 1D timeframe, we can see a clear bearish movement as BCH failed to break the support zone. A retest occurred as we respected the resistance zone which made the price of BCH drop.

But not to worry, we're probably already at the next support zone which could act as an agent leading to a bullish movement or increase in Price. Failure to retest and act on this support zone, we might head towards the lower support zone which is at about $295 respectively.

Upon the use of the 4h Timeframe, we can see a proper bearish movement or decrease in price which occurred on the BCH chart. As we make use of the Moving Average (M.A), A breakout in a bearish path is easily spotted as we drastically make our way down.

Although the Moving Average is now on our side supporting a price increase, Only Time will tell if it will be acted upon or rejected.

BCH 2h Timeframe

The BCH 2h Timeframe could also be supporting a price increase if the Moving Average is respected as a support zone.

There's also a key level at $347 which could act as a resistance zone upon us reaching it successfully.

Hopefully, The bullish path is supported and we get an increase in price Soon:)

Have A Nice Day:)

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Until Next Time, Peace.