Bitcoin Cash Analysis #29; Crypto To The Moon; Jan,1,2022.
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 Analysis.
Using the 1 Day Timeframe, from were we stopped last time, there has been a retest on the purple trend line which translated further into a bearish movement as it bounces it back into the support level created just below the candlesticks (it's colored light blue on the chart)
After the retest on the trend line,the candlesticks didn't only went bearish but it also broke The Key level which acted as both support and resistance as it made it's way to the support zone.
After the retest on the support zone, the candlestick then bounced up further and we had some increase in price as we're now at priced at around $443.66 respectively.
But we might experience some bearish movement for a short time as we make it to the Key level which acts as a resistance zone.
1 Hour Timeframe.
Using the 1 Hour timeframe, we'll just get an even more detailed look on what's happening on BCH price movement.
After reaching the resistance zone just as stated earlier, I repeat " we might go on a short bearish movement as we retest the the key level.
And that's it for today guys, Tune in the next update as I have something quite important to share about the 1 month timeframe.
Overall: We might experience some short term bearish movement nonetheless.
Until next time, Peace.
