BCH is currently trading inside a rising wedge structure, where price keeps creating higher lows while struggling to clear the upper resistance. This pattern often appears before a decisive expansion in volatility, either as a continuation or as a reversal depending on how the breakout occurs.
Recent price action shows rejection at the upper boundary, followed by a pullback into a fib cluster between 0.382 and 0.786. This zone acts as a short term decision point, where the next directional move is likely to originate.
The market structure remains constructive as long as BCH holds above the rising wedge support. A controlled retracement into the grey demand block keeps the bullish case intact, while a deeper breakdown would shift momentum in favour of sellers.
Key Technical Notes:
• Rising wedge structure guiding current trend
• Clear fib retracement confluence inside the demand block
• Higher lows indicate buyers are still defending structure
• Breakout above the wedge can trigger an impulsive move
• Breakdown from wedge support opens a larger correction
Bullish Scenario:
A bounce from the fib cluster and a breakout above the wedge resistance can open a rapid expansion toward the 720 region. Momentum would accelerate if buyers reclaim the mid channel levels with strength.
Bearish Scenario:
Losing wedge support flips the entire structure short. In that case, BCH may slide toward 446 where major liquidity sits.
In simple terms:
BCH is compressing inside a rising wedge. A breakout means continuation toward 720, while a breakdown exposes 446. Watch the fib cluster for confirmation of direction.
Recent price action shows rejection at the upper boundary, followed by a pullback into a fib cluster between 0.382 and 0.786. This zone acts as a short term decision point, where the next directional move is likely to originate.
The market structure remains constructive as long as BCH holds above the rising wedge support. A controlled retracement into the grey demand block keeps the bullish case intact, while a deeper breakdown would shift momentum in favour of sellers.
Key Technical Notes:
• Rising wedge structure guiding current trend
• Clear fib retracement confluence inside the demand block
• Higher lows indicate buyers are still defending structure
• Breakout above the wedge can trigger an impulsive move
• Breakdown from wedge support opens a larger correction
Bullish Scenario:
A bounce from the fib cluster and a breakout above the wedge resistance can open a rapid expansion toward the 720 region. Momentum would accelerate if buyers reclaim the mid channel levels with strength.
Bearish Scenario:
Losing wedge support flips the entire structure short. In that case, BCH may slide toward 446 where major liquidity sits.
In simple terms:
BCH is compressing inside a rising wedge. A breakout means continuation toward 720, while a breakdown exposes 446. Watch the fib cluster for confirmation of direction.
Market Structure • Price Action • Crypto Updates
🔗 Telegram: t.me/Coach
🔗 Telegram: t.me/Coach
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Market Structure • Price Action • Crypto Updates
🔗 Telegram: t.me/Coach
🔗 Telegram: t.me/Coach
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.