profzigzag

BCHUSD possible long scenario unfolding

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BITFINEX:BCHUSD   None
BCHUSD trading within ascending channel formation, currently testing upper channel resistance. Immediate support is at 100 and 200 EMA as well as the lower channel parallel line. Should the price break out of the channel, some resistance is expected at (1) which is just a parallel taken from the longer term yellow channel formation that has formed since mid Nov. More significant support is at (2), target and major resistance still expected at (3).
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