BCH Market Analysis🚩
Yesterday, the BCH daily chart made a strong rise from the low of 600, reaching a high of 625 before closing at 622.5. The important support below is firmly held at the MA7 moving average, and a pullback to this level presents a good opportunity to go long. The bullish momentum of MACD has weakened somewhat.
On the four-hour chart, 588 serves as support below, which is also suitable for a pullback to go long. The current upper resistance is at 625, and once broken, it may look towards 635. The bearish momentum of MACD is gradually increasing. In the short term, when the price pulls back to the range of 603.7 to 587, it may be worth considering entering long, with the expectation of a rebound target that will once again challenge the high of 625 to 635.
