Bitcoin Cash: Breakout or Breakdown? Critical Levels to Watch!Yello, Paradisers! Have you noticed the recent patterns forming in BCHUSDT? It's shaping up to be a pivotal moment for Bitcoin Cash. Let’s dive into the details!
💎BCHUSDT has recently taken liquidity and is forming a triangle pattern. On the lower timeframes, BCH has developed a W pattern, which typically signals a higher probability of a bullish move. However, to confirm this and target higher levels, we need a breakout and a candle closing above the resistance zone. This confirmation would significantly increase the likelihood of a bullish continuation.
💎If BCH breaks out and closes candle above the resistance zone, it would validate the bullish W pattern and open the door for higher targets.
💎In the event of a pullback, we can expect a bounce from the support zone, potentially forming a triple bottom, which is another bullish sign.
💎Conversely, if BCH breaks down and closes below the support zone, it will invalidate our bullish outlook.
Stay focused, patient, and disciplined, Paradisers. This is the only way you can make it far in your crypto trading journey. Be a PRO💰
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