BCHUSD started a very good bullish run in the past 14 days. If you look at the daily chart you see that the price reached resistance at 1500.00 and was rejected. We can see the yellow zone, lower point was resistance BCHUSD pushed through and will now act as a support at 1175.00 level. The price correction is in play for 2 days already. I think support at 1175.00 level will be strong enough to hold the price up. The whole market seems to be bullish and I think that it shows the real strength of bulls. Based on past days market signals, I think we should expect for further upward movement to 2000.00 level after this minor correction and if the market stays bullish.Other option is that the
BCHUSD support will not uphold the movement. If this happens, the price could drop at lower level. I think to at least 920.00 level. And from there on we will see new up movement. If 920.00 support can’t hold the market, the price could go even lower. Remember always tend to buy on supports and sell at resistances!Please share your thoughts or tap like button if you like my idea!
Note
Price tried to breach resistance line, but was denied on two occasions.
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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.