BCH Analysis, Crypto Analysis, Crypto To The Moon Series.#68

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Investors Friend;) 🏅Crypto and stock Trader🏅Stay updated on the market📈📉

2 years ago

In community: Cryptocurrency and Blockchain(7b7f)

Topics: BCH, Bitcoincash, Crypto currency

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

The analysis we are making on BCH is been followed up step by step as we progress through the days.

After the retest on the resistance zone at $295 mark, we went bullish just before stopping at the resistance zone at $347 before going bearish at which point we made our analysis on yesterday.

The decrease in price we experienced yesterday was also partly due to the breakout on a formed trend line.

BCH 4h Timeframe

We mentioned yesterday of the possible bullish or increase in price as we were based on a support zone yesterday which will support a bullish movement or increase in price. And guess what? We were right on that.

As for now, I think a continuous bullish movement could help a little especially if there's a breakout on the above resistance zone.

What we can base on right now to support a bullish movement or an increase in price is the fact that the M.A (Moving Average) is under or below the candlestick and it therefore acts as a support zone.

As we all know, Support zones supports an increase in price. So, yeah, I think that's what we're relying on for now for a bullish movement and that too if reacted on. If not, we go the opposite direction which is bearish. But thankfully the support zone is not far from where we are.