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BCH/USD
The bulls were able to work out the upward target for the breakdown of the daily cloud (805.67) almost perfectly, but they failed to hold on to the situation and consolidate at the reached heights. Thus, its opponent managed to achieve a major decline. The reference and support here was the weekly short-term trend (593.30). The decline was replaced by a long consolidation, the center of gravity is currently the daily levels 624.54 - 639.28 (Tenkan + the upper border of the daily cloud). The persistence of uncertainty, which led to consolidation, will keep the pair in the range of influence of 625-639. To change the situation, players need to break through the resistances that have united in a fairly wide zone 669.15 - 694.57 - 708.92 - 719.99 (daily cross levels + monthly Fibo Kijun). In order for new prospects to appear, the short-term weekly trend (593.30) must finally be captured, since it blocks the way to support the lower border of the daily cloud (547.96) and the upper border of the weekly cloud (529.78).
The key levels in the smaller time frames help contain the situation for the levels of the higher ones (625 - 639), which are now located at 624 - 633 (central pivot level + weekly long-term trend). Such a situation has been developing for a long time in the influence and attraction zone of these levels. The location and trading below the levels create some advantages for the bears. After breaking the current support 612 (S1), the next pivot points on the hourly chart can be noted at 604 (S2) and 592 (S3). In case of consolidation above the key levels (624 - 633) of the higher time frames, the preponderance of forces will shift to the bullish side. Their reference pivot points will be the resistances of the classic pivot levels 644 and 652.
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Ichimoku Kinko Hyo (9.26.52) and Kijun-sen levels in the higher time frames, as well as classic Pivot Points and Moving Average (120) on the H1 chart, are used in the technical analysis of the trading instruments.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
