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BCHUSDT.P trade ideas

BCHUSDT Market AnalysisBlitz Bear: We've been in a long time downtrend and now the price is under the pressure of EMA 50. According to the volume it is unlikely that the price will go up and breakthrough to the upside now. When this pullback is over, The market might have another panic sale which causes a long consolidation. Blitz Bull: The support level still matters, If the price holds above there(344), then eventually a bigger pullback will be materialized. Next resistance: 450.
by Blitz_analysis
One day analysis of BCHUSDTBlitz bear: After a free fall we can spot a descending flag, this also shows a sorting area that is still under downtrend. Even though the price had been above EMA 20 for a while, but the bull just can push up more thus the candles keep attaching EMA 20, a very weak signal. Our potential target would be 361. Blitz bull: There's no surprise that price would encounter resistance in this area. If we look back we will find that the area we are in now was a high-value area since Nov 2020. As long as the price didn't break out to the downside of this area, we are under a long-term consolidation in one week's chart. In other words, most people would think this is unconquerable support and it's the time to buy at the dip.
by Blitz_analysis
One day analysis of BCHUSDTBearish view: Since the price now is under EMA 50, we are expecting a long-term bear market. The next support level is roughly 380~390. It will need some time to conquer, therefore, a consolidation is likely to happen for a few days. Bullish view: The price has broken a major support area, it would certainly increase the passive emotion and cause some panic. It's more likely conducted by US traders. Now the hope is a pullback. Resistance range: 414-420.
by Blitz_analysis
Some thought of BCHUSDTNow the situation is not really positive towards us. Yesterday I drew 3 boxes and they all broke straightforwardly. On 4 hours chart, the price is heading to the next big support level (yellow dashed line). I think that's the next target. Wait until the opportunities come to that area then look for a long trade. While if it broke, look for the short trades. On the contrary, another possibility is the bulls don't even allow the price to touch their holy land, so eventually, they'll create a pushup, and the next resistance level is the dashed blue line on the chart.
by Blitz_analysis
One day analysis of BCHUSDTI'm trying to divide it into three areas to do a 1-day analysis. Purple, yellow, and green Box respectively. A great hammer showed after yesterday's analysis, therefore the lower high formed and the price is directly heading down. When zooming down to 15 mins timeframe, it shows the support (443) has been broken. So now it encounters double pressures of decline. Both 4 hours and 15 mins. Each time the price touches the box upper band could be a chance to short.
by Blitz_analysis
BCH analysisThe price tested the old position, again, in 31st Dec. We could have two views: Bullish view: (green line) The price action from 13th Dec to 31st Dec can be seen as two major waves and it forms an uptrend, as long as it didn't break down the previous low, we can think this trend is still valid thus should expect a higher push up to overpass 480. Bearish view: (blue and red line): The price now is on a bull back. The uptrend actually was broken already and now this position is the lower high. So when there's direction changed next wave (downtrend) will eventually break the support level (red line) and goes lower in order to create a lower low.
by Blitz_analysis
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