Bitcoin Cash Researchers Propose New Transaction Ordering Rule

BCH/USD Medium-term Trend: Bullish

Supply zones: $1000, $1150, $1100
Demand zones: $700, $650, $600

Bitcoin Cash is in bullish trend in the medium term. The bulls successfully moved price from $666.40 in the demand area to $778.0 in the supply area. They briefly lost momentum to the bears who pushed price down to $735.18.

Price is above the 10-day EMAs. This suggests bullish pressure.

The stochastic oscillator is at 77 percent and it signals points up which implies the upward momentum in price of the cryptocurrency in the medium-term as the bullish pressure and presence increase.

BCH/USD Short-term Trend: Bullish

The bulls are in control of the cryptocurrency in the short-term outlook. The two EMA is seen acting as a strong support against downward movement of price occasion by the bears' pressure.

The bearish engulfing candle formed was counter by the next  bullish hammer on the chart which simply indicates bearish rejection and the presence of the bulls for price good move to the north.

The stochastic oscillator is at 48 percent and it signals point up which implies upward momentum in price movement of the cryptocurrency.


The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

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