BCHABC/USDT Analysis

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BCHABC/USDT Analysis

After a strong rejection from the bearish order block, price is consolidating above the Point of Control and above the current demand zone.
Price could potentially make a double bottom here off of the High Volume Node/Point of Control and see a re-test of the local highs at 137.
As long as price holds this support level, I will be an interested buyer if we see the trend flip bullish and get some decent volume.

If we can re-claim the EQ zone at 143 then things will look quite nice for an upthrust to 174.

Need to See:

1. 8HR Heikin Ashi Trend Flip Bullish
2. Volume Spike
3. No closes below 130

Potential Targets:

Off of Support Test: 137 - 143

Off of Reclaiming EQ: 155 - 174

Reminder: This idea is invalidated by a close below 130. Should that occur, our next levels of support are 120. Below that we're shorting it to the ground.




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