BCH/USDT Analysis (4H Chart)
Currently, Bitcoin Cash is showing a bullish momentum with a breakout attempt above the $478.1 resistance zone. I have set a stop buy order slightly above this level to open a trade, as confirmation of the breakout could lead to further upward movement.
Key Levels:
Resistance 1: $478.1 (Breakout Zone)
Resistance 2: $530.2
Support 1: $454.1
Support 2: $413.1
Trade Setup:
Entry: Stop Buy at $480.3
Take Profit: $530.2
Stop Loss: $454.1
The RSI on the 4-hour timeframe is at 66.19, indicating momentum is shifting towards overbought but still has room for further growth.
If the breakout fails and the price falls below $478.1, I will reassess for potential downside opportunities. Let’s see how this plays out!
Key Levels:
Resistance 1: $478.1 (Breakout Zone)
Resistance 2: $530.2
Support 1: $454.1
Support 2: $413.1
Trade Setup:
Entry: Stop Buy at $480.3
Take Profit: $530.2
Stop Loss: $454.1
The RSI on the 4-hour timeframe is at 66.19, indicating momentum is shifting towards overbought but still has room for further growth.
If the breakout fails and the price falls below $478.1, I will reassess for potential downside opportunities. Let’s see how this plays out!
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