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In this analysis, I want to review the BCH coin for you. One of the old and well-known American coins that, with a market cap of $11.33 billion, ranks 16th on CoinMarketCap.
📅 Daily Timeframe
On the daily timeframe, this coin has an upward trendline and has made a slow upward move with a slight slope up to the top of 618.4.
⚡️ Currently, this trendline has been broken and the price has reacted to the 530.9 zone. The break of this zone gives us confirmation of the trendline break and the price can move towards lower levels.
🔍 But the FRVP indicator shows a larger support zone from 491.9 to 530.9, and to have FRVP confirmation, we need to consider this.
💥 At the same time, as the price fell, volume dropped significantly, and it seems that market participants are more interested in the upward trend, because volume was increasing in the bullish leg and decreasing in the corrective leg.
🔔 The RSI oscillator was also on a support zone at 43.49, which was supported, and as long as RSI is above this level, the main market momentum will remain bullish.
🧩 So for now, I think it’s better not to open short positions because the price is on an important level and volume also diverges with shorts.
📈 But for a long position or even buying in spot, breaking 618.4 is a suitable trigger, and with its break, we can enter a position.
📊 If the 491.9 area is broken, the next support zones we have are 406.1 and 349.2.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
In this analysis, I want to review the BCH coin for you. One of the old and well-known American coins that, with a market cap of $11.33 billion, ranks 16th on CoinMarketCap.
📅 Daily Timeframe
On the daily timeframe, this coin has an upward trendline and has made a slow upward move with a slight slope up to the top of 618.4.
⚡️ Currently, this trendline has been broken and the price has reacted to the 530.9 zone. The break of this zone gives us confirmation of the trendline break and the price can move towards lower levels.
🔍 But the FRVP indicator shows a larger support zone from 491.9 to 530.9, and to have FRVP confirmation, we need to consider this.
💥 At the same time, as the price fell, volume dropped significantly, and it seems that market participants are more interested in the upward trend, because volume was increasing in the bullish leg and decreasing in the corrective leg.
🔔 The RSI oscillator was also on a support zone at 43.49, which was supported, and as long as RSI is above this level, the main market momentum will remain bullish.
🧩 So for now, I think it’s better not to open short positions because the price is on an important level and volume also diverges with shorts.
📈 But for a long position or even buying in spot, breaking 618.4 is a suitable trigger, and with its break, we can enter a position.
📊 If the 491.9 area is broken, the next support zones we have are 406.1 and 349.2.
📝 Final Thoughts
Stay calm, trade wisely, and let's capture the market's best opportunities!
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.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.
💥 Don’t Miss Out!
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.com
🏆 Trade & Earn : bitunix.com/register?vipCode=TCPINT
💰 Join the Telegram Channel Now: t.me/Tradecityproint
🤵 Business Contact: Tradecityproteam@gmail.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.