Supply zones: $80, $90, $100
Demand zones: $30, $20, $10

BCHSV remains in a range-bound market in its medium-term outlook. $50.00 in the supply area was the high the bullish pressure could take the coin as it faced resistance around the 10-EMA with the close of the candle as a doji. The bears did return as the price of the cryptocurrency dropped to $43.00 in the demand area.

Price is still below the two EMAs but the stochastic oscillator at 37% with its signal pointing up. It suggests a bullish move to the upside in the cryptocurrency price within the range in the medium term.

BCHSVUSD is in consolidation and trading between $60.00 in the upper supply area and at $35.00 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area is imminent hence patience is required to allow this to happen before a position is taken.

The cryptocurrency continues in consolidation in its short-term outlook. The upward price movement due to the bullish pressure within the range predicted yesterday did push the cryptocurrency to $50.00 in the supply area as the candle closes as a bearish spinning top.

This signalled the bears return and the BCHSVUSD was down to $43.05 in the demand area as the session ended yesterday.

The 1-hour opening candle at $44.59 is bullish. Price is above the 10-EMA and the stochastic oscillator is at 71% with its signal pointing up. These suggest upward price movement within the range in the short-term.

The cryptocurrency is ranging and trading between $49.60 in the upper supply area and at $36.20 in the lower demand area of the range. Traders should be patient for a breakout at the upper supply area to go long after retest or breakdown at the lower demand area for a short after retest 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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