BCH/USD continues to move somehow sideways in the short term. It was trading at 111.62 at the time of writing. Technically, it seems undecided, that’s why we have to wait for fresh trading opportunities.
In the last 7 days, Bitcoin Cash is down by 1.60% but it’s up by 0.67% in the last 24 hours. Bitcoin’s deeper drop should force the altcoin to continue its slide.
BCH/USD sideways movement
As you can see on the h1 chart, the BCH/USD came back to retest the broken downtrend line and the 107.20 – 110.16 support zone. As long as it stays above this area, the altcoin could try to come back higher.
Personally, I’ve drawn an ascending pitchfork, hoping that I’ll catch a new leg higher as long as the price stays above the lower median line (lml).
BCH/USD outlook
Fasle breakdowns below the support levels may announce a new bullish momentum. Still, only a new higher high, a bullish closure above 116.95 activates a larger growth.
The material has been provided by InstaForex Company – www.instaforex.com
BCH/USD continues to move somehow sideways in the short term. It was trading at 111.62 at the time of writing. Technically, it seems undecided, that’s why we have to wait for fresh trading opportunities.
In the last 7 days, Bitcoin Cash is down by 1.60% but it’s up by 0.67% in the last 24 hours. Bitcoin’s deeper drop should force the altcoin to continue its slide.
BCH/USD sideways movement
As you can see on the h1 chart, the BCH/USD came back to retest the broken downtrend line and the 107.20 – 110.16 support zone. As long as it stays above this area, the altcoin could try to come back higher.
Personally, I’ve drawn an ascending pitchfork, hoping that I’ll catch a new leg higher as long as the price stays above the lower median line (lml).
BCH/USD outlook
Fasle breakdowns below the support levels may announce a new bullish momentum. Still, only a new higher high, a bullish closure above 116.95 activates a larger growth.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: