🔥 BCH Long Term Channel

BCH has been trading inside this channel for almost three months now, seeing some crazy returns during that period. Two days ago, BCH rejected the lower support of the channel for the second time. This was the signal for a lot of investors to go long in this asset. As seen from the price action, the reversal has been swift and strong.

This trade is based on the idea that BCH will follow the channel. Since a lot of cryptos are seeing some bearish pressure in the last few hours, I've placed the entry at 500. Wait till the price touches the 500 support.

On the chart I’ve marked two potential areas of resistance, R1 and R2. These areas are based on round numbers $600 and $700. Do your own due diligence.

Happy trading!