- BCH/USD is currently priced at $169.
- The confluence detector shows a lack of any strong resistance levels until $180.
BCH/USD is currently consolidating as bears try to stabilize the market following an extremely bullish Wednesday. The bulls spiked the price up by $10 from $159 to $169. The daily confluence detector shows us that even more growth can be expected as there are no prominent resistance levels till $180. The bears will have quite a task ahead of them if they want to keep the bulls quite this Thursday.
BCH/USD daily confluence detector
The BCH/USD daily confluence detector shows us that there are only two noteworthy resistance levels at $173.50 and $179.50. The confluences at those levels are:
- $173.50: Hourly previous high, 4-hour previous high, and daily previous high.
- $179.50: Monthly pivot point resistance 2.
The market has two prominent support levels at $166 and $162. The confluences at those levels are:
- $166: Weekly pivot point resistance 1, 4-hour previous low, and previous week high.
- $162: 4-hour Bollinger band middle curve, weekly 23.6% Fibonacci retracement level, and 100-day simple moving average (SMA 100).
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