One day analysis of BCHUSDT

3 mar 2022

the price is testing the support area now, ideally we'd look for a long position and from 4 hours chart it already shows a long lower wick with the buying power. To be more confirmed we can wait and see some candle patterns to give us a good entry point like double bottom. So basically what we are waiting for is the price to go down and approach the black box, the body of the candle can go inside but cannot drop over the box. Also if the candle's wick out of the bottom of the box, that also fine. Make sure the close price is in the box and then the next candle shows us the buy power. Otherwise we consider a different direction.