BCHUSD Coinbase - Looking for Entry

11 lug 2021

BCHUSD has had a lovely history of long up and down trends. Historically they have lasted near half a year at a time in the past. We are back to a downtrend as the price has fallen below the 200 day EMA, Supertrend is red and the Heikin Ashi candles all red. Like most of the larger coins we seem to be at a consolidation period of low volume with horizontal trades going on. It looks like a possible reversal for BCH but we will have more information in the next few days on the long term effects here. It honestly could go either way for this coin but I think we will see a reversal soon, but not enough to see an overall long uptrend. The EMA is below a strong line of resistance and the Supertrend indicator is falling below it to.