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

BCH continues in consolidation in its medium-term outlook. The bears returned at $453.60 in the demand area after the formation of the doji. Confirmation of the bears' takeover was made with the next candle that closes bearish.

BCHUSD was at a low of $444.10 as at the close of yesterday session. The bears continued earlier today with the cryptocurrency down to $441.70 in the demand area. Price is below the two EMAS a bearish pressure signal and the stochastic oscillator is at 31% and its signal points up an indication for upward price movement. The ranging scenario in brief.

BCHUSD is in consolidation and trading between $476.00 in the upper supply area and at $430.00 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 is in a bearish trend in its short-term outlook. The strong bearish pressure broke the $452.4 in the lower demand area of yesterday analysis the second time and took BCHUSD down to $444.1 before the close of yesterday session.

The bearish momentum was sustained as cryptocurrency went further down to $441.7 in the demand area earlier today.

The bulls are briefly back in the market. Price is currently going up north. BCHUSD was up at $449.9 in the supply area. This should be seen as a pullback necessary for the market correction before downtrend continuation.

Price is forming lower highs and lower lows that are characteristics of a down trending market. It implies a new low may be tested before the end of the session as the bears' pressure becomes much stronger.

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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