Almost 4 months have passed since the publication of the previous global BCHUSD idea.
It's time to take stock:
First, the price of BCHUSD dropped by -25%, giving a tasty purchase at $380 (the minimum was $370)
And then we had +300% growth when the goal reached $1215
In the end, you can check everything yourself by looking at the idea below.
It looks like we are in the 2nd Elliot wave cycle for BCH and we have a path to $4k, it looks pretty straightforward to me and hits resistance levels at the 618 Fib levels which match previously resistance levels. Overall I dont see anything hold BCH back.
Note financial advice...
Should find support from 1150-1242 resistance at this time. On smaller time frames support is 1188 so a break below and close below that could come lower but if we rip an hold above 1242 we can move up for sure My next target is 1500 roughly. Could swing a little higher but using ohycological even numbers. 1100 is also supposed to be strong support below if we...
Fib within a Fib. So far the shorter term price action has held above $925. However, any break of $920-$930 area would send us lower to just under $820-$825 area. The main take away, regardless of Short term price volatility, I still see $BCH making a larger impulse after any chop transpires.
Here is our technical outlook on BCHUSD.
Our analysis is based on current fundamental situation.
According to our chart BCHUSD reached a strong support.
Based on our stand point the market will accumulate.
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(BCHUSD 1W chart)
We have to see if we can get support at 991.62 and move above 1106.01.
If it falls, we need to see if it can rise...