BCH has been trading in a well-defined ascending channel on the 4H chart. After multiple higher highs and higher lows, price recently corrected to the channel support and formed a falling wedge — a bullish reversal pattern.
Current Price: ~$528
Entry Zone: $520–$540
Stop Loss: Below $495 (clean invalidation below channel support)
Targets:
TP1: $560
TP2: $590
TP3: $605
TP4: $646
TP5: $693
Potential Upside: +32% from entry zone
Analysis:
The falling wedge breakout near channel support confirms buyer interest.
Volume drop during the correction phase supports bullish reversal conditions.
Risk-reward ratio favorable near the channel low.
Trade Plan:
Start building position between $520–$540 using DCA. Keep SL below $495. Expect gradual move toward the upper resistance zones if the breakout sustains.
Watch for breakout confirmation above $540–$550 for momentum entry.
DYOR | Not Financial Advice