- BCH/USD is currently sitting on a stack of support lines.
- Bulls can grow the price by 5% before meeting any substantial resistance.
The BCH/USD market is currently sitting on a stack of support lines. While individually the support lines may not be the strongest, the stack can still present the bears with a challenge. The market faces no substantial resistance till $131.50, meaning the bulls can pull the price up by nearly 5% before meeting any real resistance.
BCH/USD daily confluence detector
The confluence at resistance levels are:
- $131.50: 4-hour previous high
- $132: Monthly 38.2% Fibonacci retracement level.
The confluence at support levels are:
- $125.50: Weekly pivot point, 15-min previous low, and previous week high.
- $121.50: Monthly 23.6% Fibonacci retracement level.
- $118: Weekly 61.8% Fibonacci retracement level