BCH/USDC - (Bullish) BCH confirmed further recovery towards 580
Market & Ticker: Bitcoin Cash - BCH/USDC
Date: 12/11/2024
Horizon / Timing: Tactical Mid-term / 1 to 3 months
Scenario:
BCH confirmed the upside trend bypassing 425 confirmation resistance.
At the current level as long as 290 remains a tactical support valid a larger rise towards 580 is expected in the coming weeks.
Technical Key Elements:
- RSI indicator is above 50% - No divergence
- The Moving average are support
- Fibonacci key support is adjusted at 390 while the Elliot wave shows upside potential towards 580
Trade Idea conclusion: Buy
- Tactical Target Max 580
- Tactical key support (Pivot) 300 (Daily close)
Chart: Daily Basis (Candle Stick) - Logarithmic
Indicators: Exponential Moving Average (21/34/89) - RSI (21)
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