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BCHUSDT trade ideas

One day analysis of BCHUSDTthe price is testing the support area now, ideally we'd look for a long position and from 4 hours chart it already shows a long lower wick with the buying power. To be more confirmed we can wait and see some candle patterns to give us a good entry point like double bottom. So basically what we are waiting for is the price to go down and approach the black box, the body of the candle can go inside but cannot drop over the box. Also if the candle's wick out of the bottom of the box, that also fine. Make sure the close price is in the box and then the next candle shows us the buy power. Otherwise we consider a different direction.
by Blitz_analysis
One day analysis of BCHUSDTWe are still on an uptrend and looking for a long position now. The current price could be an entry point with aggressive trading while more conservative would be a pullback to 303~313. Since we've seen that area has acted as resistance many times before and when we are looking for a long trade on an uptrend, it should be taken as a reference. Another thing that deserves to be noted is the U.S just had its state of union Address and war is still unclear for how much impact it would have on the Crypto market. In long term, it still has a more positive effect on Crypto development.
by Blitz_analysis
BCHUSD : There is a potential double bottom in day chart!On the left side is the 4h timeframe The price hit the TP1 : 342.4 and the next TP as below TP2 : 349.6 TP3 : 364.9 On the right side is the day chart If the price hit the TP3: 364.9 and stand firm ,that will make the potential double bottom confirm! And the TP as below For day chart TP1 :390.7 TP2 :402.1 TP3 :426.4 TP4 :455.8 If you like this analysis, give it a like or share your thought or let me know what crypto TA you want to know.
by Rex_yang
BCHUSDT Market Analysis With yesterday's rally up, (Mainly because of the sanctions that the west put on Russia, RUB/BTC trading volume surged). Influenced by this move, BCH also successfully stood above resistance, and now our next target would be 390. It is worth noting that the U.S. Department of the Treasury has issued new rules prohibiting Americans from providing any support to Russian oligarchs and entities, including through transactions using digital currencies or crypto assets, this rule will come into effect on March 1. So if this round of rallies is mainly because Russia is using crypto as a safe haven asset, then it's unlikely to cool down in the next few days until crypto exchanges implement more sanctions rule on Russia.
by Blitz_analysis
One day analysis of BCHUSDTThe next support zone is 290-295 with a lot of frequency. The market has used this zone as support and resistance multiple times in the past. This area is extremely likely to move the market. In this case, I would consider this level as a potential entry point in a lower timeframe. If the market didn't head down, instead, it reassembles the buying power, therefore, the target again is to stand above the resistance zone, I would like to see another rally up to 323.
by Blitz_analysis
Analysis of BCHUSDTSeems like It's inevitable to test 260 again now. As we can see in the chart, the market keeps heading down and we barely see buying power. A big reason for the market fall should be the recent tension between Russia& Ukraine. Global stock indexes and U.S. futures fell. Futures on the Nasdaq-100 index stood 2.1% lower, while those for the S&P 500 dropped 1.4%, therefore cryptocurrencies come under pressure too. Yesterday was Presidents Day and this sell-up happened in the morning. In the near future, cryptos price would also be highly related to the political situation while the situation remains still unclear, the market is unlikely to have a positive turn.
by Blitz_analysis