Supply zones: $600, $700, $800
Demand zones: $300, $200, $100

BCH continues in consolidation in its medium-term outlook. The bullish pressure within the range was terminated after BCHUSD was up $466.10 in the support area. Although initial push above the EMAs occurred on 21st October when BCHUSD was up at $463.10.

The inverted hammer signals bears returned and confirmation to the bears' takeover was the long bearish engulfing candle at $462.90. BCHUSD dropped to $450.60 in the demand area.

Price is below the two EMAs with the stochastic oscillator at 53% and its signal points down. The implication is a downward movement in price due to the bear pressure within the range in the medium-term.

BCHUSD is in consolidation and trading between $486.0 in the upper supply area and at $433.8 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower demand area may occur hence patience is required before taking a position coupled with good reversal candles as confirmation before entry.

The cryptocurrency remains in the range in its short-term outlook. The bearish pressure within the range after the railroad formation at $460.30 yesterday sustained the momentum with BCHUSD down to $450.63 in the demand area earlier today.

Price revolve around the two EMAs  with no defined trend hence the consolidation in the short-term.

The cryptocurrency is ranging and trading between $480.00 in the upper supply area and at $452.4 in the lower demand area of the range. Patience must be exercised at this period for a breakout or breakdown to occur before taking a position.

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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