BCH ANALYSIS:
BCH is ranging strong inside the zone of 200 to 230, and currently making its way back UP. The current long is entry at 217, scalp UP to T1 at 224.65. This is followed by a sell, and a short back down to T2 at 207.00. These are two short term scalp plays in progress for people who want to short term scalp. BCH hourly resistance will overextend buyers into overbought. The leg up will also give sellers a chance to step in at the top of resistance. I dont believe volume is strong enough to push BCH out of this accumulation phase YET. With that said, any break below support is bearish and will push BCH down to 175. Keep S/L tight in both directions!
BCH is ranging strong inside the zone of 200 to 230, and currently making its way back UP. The current long is entry at 217, scalp UP to T1 at 224.65. This is followed by a sell, and a short back down to T2 at 207.00. These are two short term scalp plays in progress for people who want to short term scalp. BCH hourly resistance will overextend buyers into overbought. The leg up will also give sellers a chance to step in at the top of resistance. I dont believe volume is strong enough to push BCH out of this accumulation phase YET. With that said, any break below support is bearish and will push BCH down to 175. Keep S/L tight in both directions!