📈 BCH/USDT Daily Trading Strategy for May 12, 2025

Current Price: $409.31

Trend: Neutral to Slightly Bearish

Timeframe: Daily (1D)

🔍 Technical Overview

• Support Levels: $400, $390

• Resistance Levels: $430, $450

• Relative Strength Index (RSI): Approximately 61.83, indicating a neutral to slightly overbought condition

• Moving Averages: The 20-day EMA is around $408.79, and the 50-day EMA is approximately $409.26, both near the current price, suggesting consolidation

🎯 Trading Plan

• Entry Point: Consider entering a long position if BCH retraces to the support zone between $400 and $405, which aligns with recent lows and psychological support.

• Stop Loss: Place a stop loss below $390 to manage potential downside risk.

• Take Profit: Set a take profit target near the recent resistance around $430, or higher if bullish momentum continues.

⚠️ Risk Management

• Risk-to-Reward Ratio: Approximately 1:2, risking $10 for a potential $20 gain.

• Position Sizing: Allocate no more than 2% of your trading capital to this position to manage risk effectively.

📌 Summary

The current market conditions suggest a cautious approach. Waiting for a pullback to the $400–$405 support zone could provide a favorable entry point. Ensure to set a stop loss below $390 to protect against further downside, and aim for a take profit near $430, aligning with recent resistance levels.