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BCHUSD possible scenario

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BCHUSD has been ranging within an ascending channel formation since mid Nov. With the recent flash crash it saw a retracement to the lower parallel line as well as 4H 200 EMA at 1100. Since then demand has picked up and a new ascending support line is forming. Should demand prevail, lower support line hold and if price breaks resistance at (1), likely further move is to the upside with target the upper parallel line of the channel and 100% Fib extension.
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BCHUSD possible long scenario unfolding
profzigzag
BCHUSDbitcoincashcryptocrytpocurrencySupply and DemandSupport and ResistanceTrend Analysis

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BCHUSDbitcoincashcryptocrytpocurrencySupply and DemandSupport and ResistanceTrend Analysis
profzigzag

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.