BCHUSD resistance at ~400 & buy opportunities
已更新
After BCH hit the bottom of its downtrend it is now at the resistance of its last peak at 397.70 and the psychological resistance of 400. This two make a strong resistance and at the moment it seems like BCH isn't ready yet to break it.
So in my opinion a further way like "B" seems like the most realistic.
A:
I don't think this way is possible anymore. (not enough bullish momentum)
If it would break the 400 this time the resistance would become a strong support for further buy opportunities.
B:
Most likely to occur. We now know where the bottom is, at around 300.
Because the resistance at ~400 can't be broken yet the price will likely fall down to this bottom again.
This will build a good buy opportunity.
Then we'll see if it can brake the resistance of ~400 at the next try.
If it breaks it like in B it will build a strong support and everytime from then, when it falls back to 400, it will be a good buy opportunity again.
C:
If it goes like B but isn't able to break 400 again (you'll realize it like at this moment), then you should sell and wait until it falls back to 300 again - and then buy opportunity again.
So in my opinion a further way like "B" seems like the most realistic.
A:
I don't think this way is possible anymore. (not enough bullish momentum)
If it would break the 400 this time the resistance would become a strong support for further buy opportunities.
B:
Most likely to occur. We now know where the bottom is, at around 300.
Because the resistance at ~400 can't be broken yet the price will likely fall down to this bottom again.
This will build a good buy opportunity.
Then we'll see if it can brake the resistance of ~400 at the next try.
If it breaks it like in B it will build a strong support and everytime from then, when it falls back to 400, it will be a good buy opportunity again.
C:
If it goes like B but isn't able to break 400 again (you'll realize it like at this moment), then you should sell and wait until it falls back to 300 again - and then buy opportunity again.
註釋
The resistance at 400 got broken sooner than I expected. After the breakout we got a good buy opportunity and now there is so much bullish power that even the resistance at 484 got broken easily.If it can break even the next resistance at 548 I see potential up to 700 here. If not, a small correction to 484 might be possible.
註釋
Even correction to 400 seems realistic now. But it shouldn't go lower now anymore (strong support)
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