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 1Day Timeframe.
From where we stopped at on our last analysis on BCH, our expectations on the price movement of BCH have been proven to be right, as they say "So far, so good".
Our previous analysis was based on the bullish movement of BCH for sometime and also on the bearish movement (reducing in price) of BCH after a retest on the resistance zone which have All occurred so far.
Although from our analysis, the price will continue it bearish movement for some time as we're currently priced at about $359, the price would be expected to reach about $350 before a final really good increase in price (Good Bullish movement).
The increase in price might be due to the upcoming retest on the support zone not so far from where we are now.
BCH 4h Timeframe.
Upon the use of the 4h Timeframe, apart from the retest we previously discussed on the 1D timeframe, there's also about to be a break out on the Green Moving Average (M.A) as we head towards a support zone for a bullish movement.
We can easily spot a second support zone around $320. A failure to retest on the first support zone which is at about $350, we might eventually go further down to retest at the second which is at about $320 respectively.
BCH 2h Timeframe.
On the 2h timeframe, we get the same view as that of the 4h but in a detailed manner. The breakout on the Moving Average has already occurred here on the 2h Timeframe as we head towards the support zone for a possible increase in price.
Well, I think that's it for today:)
On today's analysis on BCH, Our final Verdict is a soon expected increase in price.
Previous BCH Analysis: BCH Analysis; Crypto Analysis; Crypto To The Moon Series. #59
Until Next Time, Peace.
