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

BCHSV continues in a range-bound market in its medium-term outlook. The bullish pressure within the range pushed the cryptocurrency price up to $95.00 in the supply area before the end of yesterday session.

The 4-hour bullish candle confirmed the bulls’ takeover of the range as price rose to $103.38 in the supply area shortly after opening.

Price is above the two EMAs an indication of bullish pressure with the stochastic oscillator is at 63% and its signal points down which implies a minor drawdown may occur as the cryptocurrency ranges.

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 continues in a bullish trend in its short-term outlook. $95.00 in the supply area was the higher high attained as the bulls continue the journey up north.

The bullish 1-hour opening candle at $79.91 sustained the bullish pressure as BCHSVUSD was up at $103.38 in the supply area earlier today.

The 50-EMA is acting as a strong support for the bulls upward movement as price as the bears' pressure that dropped price to $92.00 in the demand area was lost.

As the bulls resume their journey north after the drawdown a new higher high may be attained 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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