2018-8-10 10:27 |
BCH/USD Medium-term Trend: Ranging
Supply zones: $1000, $1100, $1200
Demand zones: $500, $400, $300
BCH continues in the range in the medium-term outlook. The bullish pressure manages a push back up to $619.40 in the supply area and lost momentum as an inverted hammer was formed.
The bearish momentum was weak hence a low of $592.50 was attained as the bulls gradually stage a comeback.
The stochastic oscillator is at 31% and its signal points up which implies that upward momentum within the range may occur as the bullish pressure becomes stronger in the medium-term. The close of candles above the 10-day EMA may occur.
The cryptocurrency is still consolidating and trading between $644.30 in the supply area of the upper price range and at $567.00 in the demand area of the lower price range.
Traders should be patient and allow a breakout at the upper supply area or a breakdown at the lower demand area before taking a position.
BCH/USD Short-term Trend: RangingThe cryptocurrency continues in consolidation in the short-term outlook. The increased bullish pressure ensures that the cryptocurrency was up at $620.00 in the supply area from $577.00 in the demand area. Attempt to break the upper supply range was rejected due to bears return.
The cryptocurrency was down to $606.50 in the demand area below the10-day EMA before the close of yesterday market. The bears continue the journey south as the market opened and pushed further down to $592.77in the demand area within the range.
BCH continues ranging and trading between $620.08 in the upper supply area and at $575.30 in the lower demand area of the range. Traders should be patient, either a breakout at the upper range or a breakdown at the lower range must happen thereafter a position could be taken.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
origin »Bitcoin Cash (BCH) на Currencies.ru
![]() ![]() ![]() ![]() ![]() ![]() |