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R.Linda Trading - forecast

BCH → U-Turn and a bullish mood ↑

2024-08-01 09:55 CRYPTO forecast

💡 Ideas For #BCHUSDT

📈 U-Turn and a bullish mood ↑

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BCH is trading within the boundaries of the uptrend. Potential is not exhausted. The market is forming a correction to the liquidity zone before a further bullrun to ATH

snapshot

Bulls are trying to hold the defense above the key support area, which divides the market into two planes. Fundamentally, the situation should be assessed relative to BTC and ETH. In general, everything is quite positive.

Technically, on D1 we should pay attention to the support at 407 - 380. If the bulls hold this area and form consolidation of the price above 407-410, this fact may determine the medium-term potential for the market. A reversal pattern is forming against the lower trend boundary, indicating a bullish market sentiment. The market potential is 460 - 530.

Resistance levels: 420, 460

Support levels: 407, 380, 351

The market is bullish and it is necessary to look for strong support zones to forge long positions. The focus is also on the resistance 460. A breakout and consolidation above this zone will be the reason for further consolidation to the upper boundary of the trend

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