BCH: Approaching its first major test in 3 years - break .024BTC
BCH is approaching its first major resistance test at .024 btc .
024 btc is approx 1400 and is the minimum target BCH will have to hit with this incoming move .
0.24 btc is also a 3 year resistance block which has held since 2018 so this move is a major test for BCH .
BCH is going to have to cut through this location confidently and not get distracted at the 1400 mark.
What do I think ?
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In this area the MA50(yellow line) and MA100(red line) and the multi-year resistance at .024btc are formidable items for BCH to take on simultaneously making this area a heavily fortified zone . Hence I expect BCH is going to produce a large weekly candle to propel it way above the 1400 zone until it hits the 1700 area. Id also expect this to be quick two part move .
This said lets see how it plays out , Good luck and may the force be with you .
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