I saw this coming as I published BCH Long Idea on my TradingView at 240$ but I got busy and couldn't write about it before it broke out from local resistance.
This is the 1D chart of BCH /USDT where we can see volume spike in today candle with breaking above fractal resistance (243.31 USDT).Daily Candle will close in 4 hours ,so it must remain above 243 or otherwise it will be a fake out candle.
If BCH can maintain above 243 then nearest resistances are 258-265 USDT.
So where would I suggest buying the pullback?
Buy around 244-246 USDT
After that,there is one thing that's almost certain which is it will hit the red box(260-265 Zone).
I know these targets are too undervalued for most of us here.This is just for short term price analysis .So for midterm holders,270 USDT must be broken to reach the next resistance 304 USDT .
For Longterm (1st resistance being 500 USDT) price Analysis ,please read my other article here .
Long story short , main resistance being at 26500 satoshis.If BCH can breakout that resistance then it will go as the arrow described.
Also another confirmation for this arrow path.
It's now above 50 EMA(Red) and Baseline resistance of Ichimoku Cloud.
Breaking above 33000 sats can lead to massive breakout up to 45,000 sats.
Here is why
33,000 sats being the red box area which defines the Cup and Handle formation similar to ETH I have signalled before the pump in my other article here.
So in conclusion,I believe that BCH's market cycle has started to become bullish.Good days ahead for BCH community.
That's all I wanna share for now.Please ask me anything if u got any questions/share me ur thoughts.
Thanks for Reading.
If you want more of these setups,follow me on tradingview where I usually posts charts there https://www.tradingview.com/u/tikyikhant/
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