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

BCH continues in the range in the medium-term outlook. The strong bullish pressure was lost when the coin was up $570.10 in the supply area. Minor pull back to the upside occurred before the close of market yesterday with the cryptocurrency up 560.10 in the supply area.

The 4-hour opening candle at $554.60 was bearish with increased momentum. BCH is down currently at $527.50 in the demand area.

Price is below two EMAs with the stochastic oscillator at 25% and signal point down. Which implies bearish pressure within the range.

BCH is still ranging and trading between $600.00 in the upper supply area and at $510.8 in the lower demand area of the range. Traders should wait for a breakout or breakdown to occur before taking a position.

The cryptocurrency remains in the range in the short-term outlook. The double top formation at the supply area dropped the coin to $544.60 in the demand area before the market close yesterday. The momentum was sustained and cryptocurrency was further down to $525.26 today.

Price is below the two EMAs crossover with the stochastic oscillator pointing down in the oversold region. This connotes bearish pressure within the range in the short-term.

BCH continues in consolidation and trading between $569.80 in the upper supply area and at $512.60 in the lower demand area. Traders should be patient for breakout or breakdown before riding the trend.

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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