BCH
Overall Sentiment: Bullish in the medium term, with strong recent performance and analyst predictions of further upside. However, in the very short term, the price is experiencing some volatility and may be consolidating after a recent surge.
Long Trade:
* Entry Idea:
* Conservative: Look for a confirmed retest and bounce from the $540 - $550 support zone.
* Aggressive: A sustained break and close above immediate resistance at $580 - $590 with strong volume could signal a continuation of the upward trend.
* Targets:
* Short-term: $590 - $600
* Mid-term: $620 - $650
* Potential stretched target: $680 - $700 (retest of previous highs and breakout levels).
* Stop-Loss (example): Below $530 or $520 (depending on entry and risk tolerance).
Short Trade:
* Entry Idea: If BCH fails to hold the $560 - $570 support and breaks down convincingly, or if it retests $590 - $600 and is rejected with strong bearish confirmation.
* Targets:
* Short-term: $550 - $560
* Mid-term: $530 - $540
* Stop-Loss (example): Above $590 or $605.
Key Support & Resistance Levels:
* Resistance: $580, $590, $600, $620, $650
* Support: $560, $550, $540, $530