BCHUSDT Market Analysis
Blitz Bear: We need to confirm if the price failed to make new higher highs, that is, there's not enough buying pressure for the price to continue higher in this uptrend. Secondly, We are looking for the price making higher highs, while RSI to be making lower highs, In this divergence situation, it is an indication for reversal in price and we are expecting a double top scenario to help to confirm. To verify the possible double top pattern, a candle needs to test the previous swing high again( white box area), the wick or the body of the candle can be inside the box but the body cannot exceed the white box, then selling to go short.
Blitz Bull: It's quite normal that the market needs a pause from the rally up and the price will keep soaring to the next resistance level roughly 384 after the pullback. Or it could start a new consolidation area between support 316 and the current swing high.
Blitz Bull: It's quite normal that the market needs a pause from the rally up and the price will keep soaring to the next resistance level roughly 384 after the pullback. Or it could start a new consolidation area between support 316 and the current swing high.
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