BCH is showing signs of strengthening bullish momentum. The Bollinger Band Trend (BBTrend) is pointing to increasing volatility in favor of the bulls.
On the daily chart, the BBTrend’s green histogram bars have been growing steadily over the past few sessions, a signal of rising buying pressure.
For context, BBTrend gauges trend strength based on the expansion of the Bollinger Bands. When the bars turn green and expand, it signals a strengthening uptrend.
Right now, buyers appear to be in control, with volatility expanding toward the upside. This increases the odds of BCH extending its rally in the near term.
Adding to the bullish case, the Smart Money Index (SMI) is climbing suggesting that institutional or seasoned traders are positioning on the buy side. The SMI tracks how smart money behaves during key trading hours, and this uptick reinforces the current momentum.
If demand climbs, BCH's price could climb to $546.374.
On the other hand, if buying stalls, the coin's price could fall to $482.93.
Full story here.
On the daily chart, the BBTrend’s green histogram bars have been growing steadily over the past few sessions, a signal of rising buying pressure.
For context, BBTrend gauges trend strength based on the expansion of the Bollinger Bands. When the bars turn green and expand, it signals a strengthening uptrend.
Right now, buyers appear to be in control, with volatility expanding toward the upside. This increases the odds of BCH extending its rally in the near term.
Adding to the bullish case, the Smart Money Index (SMI) is climbing suggesting that institutional or seasoned traders are positioning on the buy side. The SMI tracks how smart money behaves during key trading hours, and this uptick reinforces the current momentum.
If demand climbs, BCH's price could climb to $546.374.
On the other hand, if buying stalls, the coin's price could fall to $482.93.
Full story here.
Full story here beincrypto.com/
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.
Full story here beincrypto.com/
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.