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

BCHSV is in a bearish trend in its medium-term outlook. The aftermath of the double-top formation was obvious as predicted in yesterday analysis.The bears' strong pressure kept pushing price down south with the marubozu candle at $99.19 that dropped the coin at $85.00 in the demand area.

The minor retracement to $95.00 in the supply area was an indication of bearish continuation as the cryptocurrency went down to $79.28 in the demand area before the end of yesterday session.

The opening candle was a marubozu candle which suggests that the bears' pressure will be continuous in the medium term with new lows as the momentum increases.

Price is below the 10-EMA but it rested on the 50-EMA, this implies that a break at the 50-EMA is imminent to guarantee the downtrend continuation as stochastic oscillator signal points down at 19% in the oversold region.

The cryptocurrency goes into a bearish trend in its short-term outlook. The lower demand areas at $86.35 of yesterday range was broken with the strong bearish pressure. This finally occurred with a large bearish marubozo below the EMAs crossover and dropped the cryptocurrency to $80.00 in the demand area.

The 1-hour opening candle at $87.50 sustained the bears' momentum it closes as an inverted bearish hammer as BCHSVUSD went down to $75.00 in the demand area earlier today.

Price is below the EMAs crossover and the stochastic oscillator is in the oversold region at 7% and its signal points down. These suggest that downward momentum in price of the cryptocurrency as the bears' momentum increases 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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