2018-12-1 12:14 |
BCHSV/USD Long-term Trend – Ranging
Distribution territories: $120, $140, $160
Accumulation territories: $70, $50, $30
During the November 26 trading sessions, the BCHSV/USD market valuation witnessed a $140 high point. Thereafter, the crypto started encountering a rejection at the mentioned high market point, and that has led the pair dropped slightly a bit past the $90 point on Nov. 28.
The $110 and the $90 market territories are the range zones around which the crypto has been moving since Nov. 27 until present. As at now, the market has been trading under the two SMAs around the lower range point. The Stochastic Oscillators have dipped into the oversold zone to seemingly consolidate within it . The indicators are denoting that the bearish trend is most likely to gain the market driving force.
The $110 upper range mark appears to be an important line to be broken northwards to suggest bullish trend resumption. The territories between the current range zone are the spots that selling positions could safely occur if the market fails to hold above the aforementioned upper range in a near trading period.
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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