BCH channels

BCH trading in downward channels, 1000 is the key support here.

Comment:

We were correct with a second run on very low volume pushing price action into the third channel. Price is near top of channel sitting on lower BBand. Price likely to

(1) Rebound lower Bband and be resisted off some areas near top channel

or

(2) Rebound Bband and break into third channel.

It looks like BCH is losing a lot of volume so it will be interesting to see what happens here.

The powers at be have massive influence and ruthless tactics so we'll just have to wait and see.

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Comment:

Still solid resistance in this channel

(1) Resistance at the channel edge. (Note these channels have not been plotted on any trend lines, but have been plotted assuming BCH trends downwards in Similar channels of established support and resistance - established by channel 1.)

(2) Second pump, before of after price breaches channel 4. Fib time zones could possibly indicate a pump near UTC 02:45:00 - 03:15:00.


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Comment:

Correction ^ UTC 07:05:00