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Cryptoknowmics 2022-05-31 12:50:01

BCH Technical Analysis: Price Is At The Bottom Of 2020

Starting from the trading week on 9 May, the BCH price is moving close to the global liquidity zone of $175. The last time the BCH price was in this liquidity zone was in March 2020. Who remembers this time, probably understands how strong this liquidity zone was. Because it has become a foothold for BCH buyers for a new growth wave with the final target of $1650. Trading volumes increased during the $175 important liquidity zone test. However, not as high as during the growth wave in March 2020. https://www.tradingview.com/x/OFegimGO/ It is too early to talk about the strength of buyers and their ambitions for a new growth wave. Though, the weakness of sellers is noticeable to the naked eye. The current weekly candle from 30 May has already absorbed the previous one. In fact, only one day of trading on the BCH market took place. Until buyers show their enthusiasm, the maximum target where we expect the BCH price is $271. It was after the break that the mark was given that the price began a new fall wave. Consolidation which lasted in the range of $271-$393 allowed sellers to gather good positions for the attack. So at the time of writing, we do not believe that buyers will be able to take control of the $271 mark without rebound down. BCH Technical Analysis On The Daily Timeframe https://www.tradingview.com/x/n79qATgz/ However, analyzing the movement of the BCH price according to BCH technical analysis, you should not expect ...

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BCH Technical Analysis: Price Is At The Bottom Of 2020

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