$BCH / USDT Showing Signs of Weakness on Binance 🐻
Taking a look at the $BCH / USDT 4-hour chart, we're observing some bearish signals. The price is currently at 333.2 USDT, down -0.60% in the last 4 hours and -1.83% today.
After attempting to break above the 340 USDT level, BCH seems to be facing rejection and is now trending downwards. This could indicate potential further losses in the short term.
Key Points to Watch:
* Rejection at Resistance: The inability to hold above 340 USDT suggests strong selling pressure.
* Testing Support: The 24-hour low of 332.5 USDT is a crucial support level to monitor. A break below this could lead to a deeper correction.
* Overall Market Sentiment: Keep an eye on the broader crypto market, as Bitcoin's movements often influence altcoins like BCH.
What's your outlook on $BCH ? Do you think it will hold support, or are we heading for lower levels?
Let's share our analysis and trade responsibly!
