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

BCHSV is in a range-bound market in its medium-term outlook. $74.26 in the demand area was the low the bearish pressure could drop the cryptocurrency before rejection by the 50-EMA which acted as strong support for the bulls come back.

The bullish pressure got price up at $94.04 in the supply area. This was the high of the day as the bears stage a returned due to the bearish railroad formed at $92.92.BCHSVUSD dropped to $87.32 before the end yesterday session.

Price is above the 10-EMA but the stochastic oscillator is at 42% and its signal is parallel which reflects the range-bound market.

BCHSVUSD is in consolidation and trading between $105.09 in the upper supply area and at $75.63 in the lower demand area of the range. Traders should wait for a breakout at the upper supply area or breakdown at the lower before taking a position.

The cryptocurrency is in a bullish trend in its short-term outlook. The large bullish candle $79.91 broke the two EMAs that acted as resistance thus confirming the bulls take over as price rose to $94.30 in the supply area.

The bullish marubozu candle at $85.02 after today’s opening returned the bulls after the minor bearish pullback. BCHSVUSD was up at $94.09 in the supply area.

Price is above the two EMAs crossover and the stochastic oscillator signal points up at 43%. These suggest upward momentum in price of the cryptocurrency as the bulls' 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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