From the Technical Perspective:
1. From the Monthly perspective, BCH was created a huge impulse to the upside and approaching to the major level of supply level on the Monthly perspective (represent as dot line 1347.88 in chart), expecting the last move to the upside before the continuation to downside.
2. From the Weekly perspective, BCH created an impulse to the upside followed by a correction. We can a continuation to the upside as we want to see from the Monthly perspective.
3. From the Daily perspective, BCH is sitting inside the major supply area (942.75~895.58), we can expect a short-term downside movement if the price will react to the supply level; or the price may break above the supply level and turn to the demand level (swap zone) and continue move to the upside as we want to see from the Weekly and Monthly's view.
4. Overall direction from the Multi-Timeframe Analysis: BULLISH
How to approach BCH/USD?
1. Currently lower timeframes are indicating a bullish market, multiple HH (Higher High) and HL (Higher Low) are formed. Only can looking for the short opportunity once the market turn to the bearish market.
2. Once the lower timeframe become bearish market, you may looking for the short opportunity within the daily supply zone , if your rules of the strategy are fulfilled.
3. If the supply zone will be break and turn it to demand level, you may looking for the long opportunity within the daily demand zone , if your rules of the strategy are fulfilled.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on BCHUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.
1. From the Monthly perspective, BCH was created a huge impulse to the upside and approaching to the major level of supply level on the Monthly perspective (represent as dot line 1347.88 in chart), expecting the last move to the upside before the continuation to downside.
2. From the Weekly perspective, BCH created an impulse to the upside followed by a correction. We can a continuation to the upside as we want to see from the Monthly perspective.
3. From the Daily perspective, BCH is sitting inside the major supply area (942.75~895.58), we can expect a short-term downside movement if the price will react to the supply level; or the price may break above the supply level and turn to the demand level (swap zone) and continue move to the upside as we want to see from the Weekly and Monthly's view.
4. Overall direction from the Multi-Timeframe Analysis: BULLISH
How to approach BCH/USD?
1. Currently lower timeframes are indicating a bullish market, multiple HH (Higher High) and HL (Higher Low) are formed. Only can looking for the short opportunity once the market turn to the bearish market.
2. Once the lower timeframe become bearish market, you may looking for the short opportunity within the daily supply zone , if your rules of the strategy are fulfilled.
3. If the supply zone will be break and turn it to demand level, you may looking for the long opportunity within the daily demand zone , if your rules of the strategy are fulfilled.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on BCHUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.