BCHUSDT Supply Zone Break & Sustained Bullish Phase
Since June 2023, Bitcoin Cash experienced a significant shift from bearish to bullish sentiment following its breakout above the crucial supply zone. The subsequent re-test of this zone turned it into a support/demand area.
Notably, the most recent clean rejection at the 50% Fibonacci level during a yesterdays' dump underscores buyer interest at this price point. This supports the active bullish phase, increasing the probability of a continued long-term uptrend.
With attention drawn to two key resistance areas at $433 and $574, there's a potential upside of 110-175% for BCHUSDT in the coming month or two.
Notably, the most recent clean rejection at the 50% Fibonacci level during a yesterdays' dump underscores buyer interest at this price point. This supports the active bullish phase, increasing the probability of a continued long-term uptrend.
With attention drawn to two key resistance areas at $433 and $574, there's a potential upside of 110-175% for BCHUSDT in the coming month or two.