BCHSV/USD Medium-term Trend: Bullish

Supply zones: $150, $200, $250
Demand zones: $30, $20, $10

BCHSV is in a bullish trend in its medium-term outlook. The strong bullish pressure that was noticed price forecast of 23rd November did create a double bottom. A brokeout of the upper supply area of the range did set up an upward price movement.

After breakout from the $60.00 on 25th November and subsequent retest which confirmed the bulls takeover, BCHSVUSD was up to $85.00 in the supply area before the close of yesterday session.

The bullish 4-hour opening candle at $81.37 sustained the momentum as the cryptocurrency pass the $100.00 mark and tested $114.00 in the supply area.

Price is above the two EMAs crossover and the EMAs are fanned apart which suggest strength in the context of the trend and in this case the uptrend.

The stochastic oscillator is in the overbought region at 93% and its signal points up which further confirm upward price movement due to the bulls strong pressure in the medium-term.

The cryptocurrency is in a bullish trend in its short-term outlook. A breakout from the upper supply area of the range on Friday 23rd and retest of the same area twice did confirm the long journey north.

$84.00 in the supply area was attained before the close of trading yesterday. Earlier today BCHSVUSD rose to in the supply area as the bullish momentum kept increasing.

Price is above the EMAs crossover and the stochastic oscillator in the overbought region at 83% show momentum to the upside and its signal points up. These suggest upward price movement within the range in the short-term.

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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