on this thought i wanna to speak about BCH chart .
let’s begin with weekly timeframe :
as you possibly can see within the weekly chart BCH value bounced from the weekly help round 380$ and breaked above the weekly 21 . however as you possibly can see value to retest the 21ema as new help however for locating new sample we have to take a look at decrease timeframe , normally we use the weekly timeframe to discovered essential ranges , nevertheless someday you will discover larger sample within the weekly chart .
within the every day timeframe , value began to retracement after testing the weekly resistance , and in case you draw fib retracement you possibly can clearly see value discovered help from 0.382 degree ; nevertheless there’s very apparent within the chart which is similar to the .
however we have to test the decrease timeframe to seek out entry zoon ; right here is the 4H chart :
right here is my private angle about how BCH attempt to break the channel ; its very doable actully to comes right down to retest the 4h construction and in addition 21 then you possibly can opening lengthy place . and the goal might be across the weekly resistance and in addition the 0.5 fib extension degree.
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