- BCH/USD daily confluence detector indicates a lack of strong resistance levels which shows that the market has strong growth potential.
- BCH/USD is ably supported by strong support levels to stop any downtrend in value.
BCH/USD’s daily confluence detector shows a distinct lack of strong resistance levels. This indicates that the market has strong potential for upward growth. On the other hand, the strong support levels show that in case of a downtrend, the market will have the ability to bounce right back up.
BCH/USD daily confluence detector
The confluence detector shows respectable resistance at $120.50 and $123. These two levels have the following confluences:
- $120.50: Weekly 23.6% Fibonacci retracement level
- $123: Weekly 23.6% Fibonacci retracement level
The detector shows the presence of three strong support levels: $117, $112, and $110.50. These levels have the following confluences:
- $117: Monthly pivot point, daily 23.6% Fibonacci retracement level, previous low
- $112: 4-hour middle Bollinger band, 10-day simple moving average curve, daily 61.8% Fibonacci retracement level, daily lower Bollinger band
- $110.50: Monthly 23.6% Fibonacci retracement level
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