BCHSV/USD Long-term Trend – Bullish

Distribution territories: $80, $90, $100
Accumulation territories: $30, $20, $10

As projected last week, a breakdown of the $100 market territory occurred eventually in the BCHSV/USD trading sessions on November 18 this week. Prior to that date, the crypto was found testing the 50-day SMA’s trend-line from below.

After a short time, the USD came up stylish to press down southwards; the market trading line a bit below the $40 mark on November 20. The market line had dropped by featuring notable bearish candlesticks below the sell signal trend-line of the 14-day SMA. On Nov. 21, the crypto slightly rose against the 14-day SMA at around the aforementioned mark. Just about then, the BCHSV/USD market line has been trying to push northwards around the $60 and the $40 price territories. The 50-day SMA is over the 14-day SMA. The Stochastic Oscillators have penetrated into the overbought zone.

At this point of trading time, traders should take a keen look at their upswing position opening so as to avoid bulls’ trap. But, it seems to be a good time for the investors to come in right now.

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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