ARE YOU READY??! COMPLETE ANALYSIS #BCH 29/04
In a market full of promises, Bitcoin Cash is like that relative who left home to follow their own principles, the "lost twin" of #BITCOIN 😂. BCH was born from an ideological split in the BTC community. While one side wanted to evolve with solutions like SegWit, the other believed that the best way out was to increase the block size, maintaining the original spirit of Satoshi Nakamoto's whitepaper. 🥊
🟢 Why pay attention to BCH?
- Solid concept, faithful to the original vision of Bitcoin.
- Active development, with teams like Bitcoin ABC.
🔴 But not everything is rosy, OBVIOUSLY:
- Inferior security compared to BTC, with lower computational power and 51% attack risk.
- Low institutional adoption, especially compared to more modern projects.
LET'S GO TO THE ANALYSIS ————— 🤾🏽♀️
Trend still weakened, but with signs of possible medium-term reversal. On the weekly chart, it is possible to observe growth in the last candles, which is a healthy sign for validating the reversal.
Double bottom (W) visible on the daily. Confirms upward momentum, explaining again MEANS: STRENGTH.
OPERATION ————— 🥷👇🏽
The idea is to position oneself, so a lot of calm and attention to the stop. LET'S CATCH IT ON THE CORRECTION.
🥊 Support: 360 | 365 | 330 | 250
🔴 Resistance: 380 | 410 | 487
🟢 Entry with STRUGGLE 😌😂 : 362 - 360 (1 chance - If it catches and rises great, if it shows weakness - we exit and catch it at the conservative entry).
🟢 CONSERVATIVE Entry: 355 - 350 - recommended for those with little capital and who don't know risk management.
Stop: 5%
🚀 TARGET POINT 1: 408
🚀TARGET POINT 2: 470
🔥TARGET POINT 3: 530
Medium and Long-Term Operation.