Hows it going everyone! Please like and follow as that allows other traders to see content that they may find value out of. Today i have published a chart on BCHSV off binance. I have done my technical analysis on a 4HR chart with MACD and RSI as indicators. Below let's go over some technical's and explain why i believe the price of BCHSV will be heading upwards.
As we can see BCHSV is currently in a falling wedge formation. Volume on binance is sitting around 3919 btc at the moment of writing this. We can see from the past that BCHSV retraced for 9 days and then broke downtrend resistance retesting previous resistance at 0.034. We have moved lower then previous support heading today the 61.8 fib to most likely bounce off that and move upwards ultimately breaking out of current falling wedge heading towards resistance at 0.0250
TIME-FRAME: 4HR
BUY ZONE: 0.0195-0.0205
KEY RESISTANCE: 0.025-0.034
KEY SUPPORT: 0.0215-0.0228
RSI: BULLISH
MACD: NEUTRAL
!DISCLAIMER!:THIS IS NOT FINANCIAL ADVICE AS I AM NOT A FINANCIAL ADVISER. THIS CONTENT IS INTENDED FOR EDUCATIONAL/ENTERTAINMENT PURPOSES ONLY!
As we can see BCHSV is currently in a falling wedge formation. Volume on binance is sitting around 3919 btc at the moment of writing this. We can see from the past that BCHSV retraced for 9 days and then broke downtrend resistance retesting previous resistance at 0.034. We have moved lower then previous support heading today the 61.8 fib to most likely bounce off that and move upwards ultimately breaking out of current falling wedge heading towards resistance at 0.0250
TIME-FRAME: 4HR
BUY ZONE: 0.0195-0.0205
KEY RESISTANCE: 0.025-0.034
KEY SUPPORT: 0.0215-0.0228
RSI: BULLISH
MACD: NEUTRAL
!DISCLAIMER!:THIS IS NOT FINANCIAL ADVICE AS I AM NOT A FINANCIAL ADVISER. THIS CONTENT IS INTENDED FOR EDUCATIONAL/ENTERTAINMENT PURPOSES ONLY!
Comment:
BCHSV following price breakout very good at the moment, though i am not sure this will have the push to drive the price to 0.034 which is the previous high it is up 18% from when posted on yesterday!!!