Bitcoin Cash (BCH) Daily Price Forecast – August 14

2018-8-14 10:53

BCH/USD Medium-term Trend: Bearish

Supply zones: $800, $900, $1000
Demand zones: $300, $200, $100

BCH is in a bearish trend in the medium-term outlook. The strong bearish pressure was sustained and it broke $535.50 in the lower demand area of yesterday range.The increased bearish momentum led to a further downward movement in the cryptocurrency to 522.10 in the demand area before the market closes yesterday.

The Retest of the broken demand area with a bearish spinning top further pushed the cryptocurrency down to $471.1 in the demand area. Price was at this demand area on 1st November 2017.

Price is below the two EMAs and the EMAs are fanned apart which connotes strength in the context of the trend and in this case the downtrend. The stochastic oscillator is in the oversold region and at 15% and its signal points down which means downward momentum in the price of the cryptocurrency in the medium-term.

As the bears increased and more candle formed below the EMAs, $325.0 in the demand area may be the bears' target.

BCH/USD Short-term Trend: Bearish

The cryptocurrency is in a bearish trend in the short-term outlook. The bearish pressure returned much stronger and broke $560.90 in the lower demand area of yesterday range.

Further pushed down south as the momentum increased was seen as the cryptocurrency was at $521.10 before the close of market yesterday.

The 1-hour opening candle at $531.2 was bearish and with increased pressure price was down to $471.1 in the demand area. The formation of a bullish spinning top is a signal to bullish comeback. This should be a minor pullback for a market correction before downtrend continuation.

Price is below the two EMAs and the 10-day EMA is seen acting as strong resistance against upward price movement. A flag is seen formed and this is an indication of an initial bullish move before the major bearish downward move.

 

 

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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Bitcoin Cash (BCH) на Currencies.ru

$ 446.95 (-1.30%)
Объем 24H $398.946m
Изменеия 24h: -0.24 %, 7d: -16.92 %
Cегодня L: $442.63 - H: $460.11
Капитализация $8.852b Rank 19
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bearish bch trend zones demand medium-term area

Источник: bitcoinexchangeguide.com

bearish bch → Результатов: 54


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