Worst case scenario,
As BCHUSD moves into the month of October RSI is currently sitting within the 20/30 zones on the daily chart. BCHUSD will within the next three to five days indicate whether a correction is in store or whether further downside to $130 levels. If the support of $213-$200 is broken then a drop to the next support level of $173 is the next possible target. If this support level breaks then a swift fall to the next support of $130-138 levels.
More loss overtime scenario,
BCH could possibly fall through a modest descending wedge through out the entire month of October breaking below $200 falling down to $175 and bouncing off this support to start off a new bull rally in November.
Best case scenario but unlikely,
Bulls can break through three levels of resistance.
$247, $292, and finally $320
As BCHUSD moves into the month of October RSI is currently sitting within the 20/30 zones on the daily chart. BCHUSD will within the next three to five days indicate whether a correction is in store or whether further downside to $130 levels. If the support of $213-$200 is broken then a drop to the next support level of $173 is the next possible target. If this support level breaks then a swift fall to the next support of $130-138 levels.
More loss overtime scenario,
BCH could possibly fall through a modest descending wedge through out the entire month of October breaking below $200 falling down to $175 and bouncing off this support to start off a new bull rally in November.
Best case scenario but unlikely,
Bulls can break through three levels of resistance.
$247, $292, and finally $320
Note
So far.....It would appear the higher channel has been selected
Note
Running out of strength of the 1 minute chart. Below 20 50 and 200 MA further decline incoming.Note
Now looking for BCHUSD to slip within the yellow trend lineNote
Bearish MACD on 1234, daily and weeklyNote
Note
Volume is too low to prevent further declineNote
A lot of sideways movement but it's playing out nicely
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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.