ðĨ BCH Resistance Held: Reversal Soon?
A couple of weeks ago I made an analysis on BCH. Here I argued that once we closed above the $715 resistance level, a push towards $800 was imminent.
$800 was indeed reached. However, the resistance was so strong that it caused a massive reversal once Bitcoin fell, pushing BCH back into the support area between $800 - $715.
I'm expecting this bearish move to be of a short duration. First BCH should move back to $800, which can happen this week once BTC settles down a bit.
In the coming weeks I'm expecting BCH to push towards the next target based around $940.
Happy trading!
$800 was indeed reached. However, the resistance was so strong that it caused a massive reversal once Bitcoin fell, pushing BCH back into the support area between $800 - $715.
I'm expecting this bearish move to be of a short duration. First BCH should move back to $800, which can happen this week once BTC settles down a bit.
In the coming weeks I'm expecting BCH to push towards the next target based around $940.
Happy trading!
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