BCH price in slow decline

9 thg 6, 2023

Hi guys, let's review the current situation for BCHUSDT on 1D price chart.

The price of BCH stuck in $50-60 price range for almost a year. On 1D timeframe we can see that there is a descending triangle on the chart and there is no signs that price can go up. Descending triangle is a bearish pattern and I don't expect that the price of BCH will go higher than $120-$125. Most likely within next few months we'll see price testing support line at $97. It might go even lower than that.
Overall I'm quite bearish on BCH.

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Many thanks.

10 thg 6, 2023

Ghi chú

Just yesterday I wrote about BCH price testing $97 and today price touched $90 price! To be honest even me I didn't expect it so fast.

13 thg 6, 2023

Ghi chú

As was expected after such a big fall, the price now in the correction phase. I expect price to go at least up to 108-116 range and after that likely go back testing 97 support area.