Bitcoin Cash Analysis #32; Crypto To The Moon.

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

2 years ago

Topics: 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;

The crypto market is currently generally down as BTC and other famous Alt Coins like Eth,Bch... are all in a bearish condition.

BCH Analysis;

1 Month Timeframe.

The fact that BCH broke out of the symmetrical triangle at a bearish point might really be one of the factors affecting the current price movement of BCH.

Another thing to note again is that in our current position,BCH is not responding to a major key level which should've acted as a support zone as it continues to go bearish.

But it's a good thing that this is the 1 month timeframe as there's still much time for it to reverse it's movement to a bullish path hopefully.

1 Day Timeframe.

From one point, were able to see a perfect break out and that too at a Bullish part.

But it all changed as the candlesticks retested a resistance zone and made its way down on bearish stance.

The candlesticks also retested another resistance zone and made it's way to the nearest support zone as there were hopes of it stopping there and making it's way upwards.

But unfortunately, BCH had other plans as it surpassed that support zone yet again.

4 Hour Timeframe.

Like I always say, using the smaller time-frames will help give you an indepth view of the chart.

But this time around, If we look closer, we'll also find same multiple resistance zones that happened on the 1Day timeframe repeating itself in the 4 hour timeframe.