Supply zones: $800, $900, $1000
Demand zones: $300, $200, $100

BCH remain in a bearish trend in its medium-term outlook. The bullish pullback of 7th September did not push past the 23.6 fib due to strong resistance from the 10-day EMA.

$485.00, the low of 6th September was broken with a large bearish engulfing candle on 8th September and the cryptocurrency went down to $463.00 in the demand area due to the strong bears' pressure.

Price is below the two EMAs and its forming lower highs and lower lows. New lows may be seen as the bears increase their momentum down south in the medium-term..

The cryptocurrency is in a bearish trend in its short-term outlook. The strong bearish pressure broke pass $493.60 in the lower demand area of the range. A retest occurred and price went further down to $463.00 in the demand area.

The bullish pullback on 9th September pushed price up $495.00 briefly to retest the broken area and further upward movement was rejected as bearish spinning top signal bears returned.

Price was down to in the demand area $473.00 below the two EMAs. The stochastic oscillator is at 39% and it signal points down. These imply downward movement in price of the cryptocurrency in the short-term as the bears' pressure becomes stronger.

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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