💥$BCH /USDT Testing Support After a 3.31% Dip!🔥
🌟Current Price: 347.2 USDT (3.31%)
🌟24-Hour High: 368.7 USDT (Key resistance zone)
🌟24-Hour Low: 343.3 USDT (Critical support area)
Volume (24H):
🌟BCH: 101,203.28
🌟USDT Equivalent: 36.09M
⚡BCH has shown some decline, hovering close to its 24-hour low. Current trading activity highlights consolidation near support levels, suggesting a potential reversal or continuation depending on market sentiment
⚡Technical Indicators 🧩
1. RSI: Likely neutral, providing room for movement in either direction.
2. MACD: Bearish, with a possible divergence signal to watch.
3. Bollinger Bands: Narrowing, signaling potential volatility.
⚡Trading Setup 📝
🎖️Bullish Scenario
Type: Reversal Trade
👉Entry Point: Above 348.5 USDT (confirmed bounce off support)
👇Take-Profit Targets:
🎯TP1 (1:1): 355.0 USDT
🎯TP2 (1:2): 360.0 USDT
💢Stop Loss: Below 345.0 USDT
🎖️Bearish Scenario
Type: Breakdown Trade
👉Entry Point: Below 345.0 USDT (confirmed rejection)
👇Take-Profit Targets:
🎯TP1 (1:1): 340.0 USDT
🎯TP2 (1:2): 335.0 USDT
💢Stop Loss: Above 346.0 USDT
⚡Risk Management Strategy ⚠️
For Bullish Setup, move Stop Loss to Breakeven after achieving TP1 (355.0 USDT), and secure partial profits by closing 50% trade quantity
Similarly, for Bearish Setup, minimize risks after reaching TP1 (340.0 USDT) by adjusting Stop Loss to Entry
⚡Key Notes ✍️
1. Confirm breakout or breakdown moves with substantial trading volume to avoid false signals
2. Monitor the 368.7 USDT resistance zone for clarity on upward momentum
3. Adapt to external factors as BCH’s market may exhibit unexpected volatility
Disclaimer: #DYOR*
Buy Or Trade With Me On $BCH