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

BCH continues in the range in its medium-term outlook. The bears' pressure briefly took control of the market and dropped the cryptocurrency at $519.00 in the demand area before losing momentum.

The gradual return of the bulls led to price up to $535.80 in the supply area before the end of yesterday session. The bullish 4-hour opening candle at $533.30 sustained the momentum and BCH was up $554.20 in the supply area earlier today as the cryptocurrency continues ranging.

BCH is in consolidation and trading between $580.30 in the upper supply area and at $506.80 in the lower demand area of the range. Patience should be exercised during this period and allow a breakout at the upper supply area or breakdown at the lower area to happen before a position

The cryptocurrency remains in the range in its short-term outlook. $519.00 in the demand area was the point the bearish momentum lasted before losing steam. The bullish hammer at the demand area set the stage for the bulls returned.

BCH was up to $554.20 in the supply area with a large bullish engulfing candle earlier ds morning as the coin continues in the range.

$563.10 is the upper supply area while $514.20 is the lower demand area of the range in the short-term. A breakout from the upper supply area would suggest a long position while a breakdown at the lower demand area would be good for shorting.

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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