BCH 1Day Chart Falling Wedge Breakout
Trade setup: There are signs of trend reversal. Support at $100 has held up so far and the price broke through the down trendline. Reached $150 where it’s likely to encounter stiff resistance. (set a price alert)
Trend: Uptrend on Short-Term basis, Neutral on Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).
OBV (On Balance Volume): is rising, indicating that volume on Up days is greater than volume on Down days. Hence, demand (buyers) exceeds supply (sellers).
Support and Resistance: Nearest Support Zone is $100. The nearest Resistance Zone is $150 (previous support), then $200.
Trend: Uptrend on Short-Term basis, Neutral on Medium-Term basis and Downtrend on Long-Term basis.
Momentum is Bullish ( MACD Line is above MACD Signal Line and RSI is above 55).
OBV (On Balance Volume): is rising, indicating that volume on Up days is greater than volume on Down days. Hence, demand (buyers) exceeds supply (sellers).
Support and Resistance: Nearest Support Zone is $100. The nearest Resistance Zone is $150 (previous support), then $200.
Avange-Lina