BCH/USD Retraced to the Support Level - What Is Next?

22 Nov 2020

In this technical analysis, I will follow-up on the previous idea on BCH now that we have finally arrived at a moment where we can enter a long position. The price retraced beautifully to the horizontal one that used to be resistance. In the bullish scenario of the S/R flip and the old resistance zone turning into new support, I expect the price to rise until the next resistance - giving us a 14% trade opportunity.

All information can be found on the chart. I tried to make it as self-explanatory as possible. In case you still have any questions, free free to leave a comment or send me a personal message.