Supply zones: $80, $90, $100
Demand zones: $30, $20, $10

BCHSV continues in a bearish trend in its medium-term outlook. The strong bearish pressure was sustained with the cryptocurrency making a lower low at $55.00 in the demand area before the end of yesterday session as it closes as a gravestone doji an indication of downtrend continuation.

Today opening bearish candle at $56.80 kept the bearish tempo up as BCHSVUSD was down to $45.40 in the demand area earlier today.

With price below the two EMAs and the EMAs are fanned apart it implies strong bearish pressure and downtrend continuation in the medium-term.

The stochastic oscillator remains in the oversold region at 2% and its signal shows no sign up which suggests that the downward price movement may continue as the bearish pressure becomes much stronger.

The cryptocurrency continues in a bearish trend in its short-term outlook. The 10-EMA continues to act as a strong resistance against upward price movement. The formation of flags is important features as bears continue the journey down south.

As yesterday session came to a close the bulls did push price to $61.00 in the supply area to create another flag.

Today's 1-hour opening candle at $56.80 was a large bearish engulfing candle that dropped BCHSVUSD to $45.40 in the demand area.

Price remains below the two EMAs and the stochastic oscillator is in the oversold region at 7% with its signal pointing down which implies further downward price movement in the short-term.

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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