BCH trend lines#BCH/USDT
$BCH is trading between weekly ascending trend lines, also parallel descending trend line from all time high make resistance for price.
🐮 break out from descending resistance will increase price to ascending resistance that is the same with resistance zone around 0.382 fib level, and break out this zone will head up price to resistance zone between 0.5 and 0.618 fib levels.
🐻 rejection from descending resistance will drop price to ascending support that is so week because of so many touches and will drop more to long term support around $200.
BCHUSDT trade ideas
BCH 1WAn uptrend line is a straight line drawn upward to the right that connects 2 or more low points. The second low must be higher than the first for the line to have an upward incline. Uptrend lines act as support and indicate that there is more demand than supply, even as the price rises.
entry after retest uptrend line.
A retest refers to prices reversing direction after a break and returning to the breakout level to see if it will hold.
Bitcoin Cash can reach 400-420$BCH has started a Bullish Trend & we can See an Ascending Channel On The Chart. The Price is gonna Need to Decrease a little more For it would Become Ready to Ascend Further. a Support Stands at 300$ .This Should be a Good Point for Price to React to & Continue The Bullish Movement From There.There is also a Hidden Bullish Divergence (+HD) on MACD which Means There is a High Bullish Chance For BitcoinCash! The Price can Increase up to 400-420$ for now.
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Have a nice day and Good luck
BCH 1 day analysisPrice has been consolidating in 355-392 for a while, this zone was created first in Jan. It's a heavy psychological point, as long as it's broken. Bull's momentum would be unstoppable. But now we can see the MACD momentum didn't follow up with the price. A bigger retreat is possible.