BCH/USD Long-term Trend – Bearish
Distribution territories: $1,500.00, $1,700.00, $1,900.00.
Accumulation territories: $500.00, $400.00, $300.00.
Bitcoin Cash still suffers a significant selling pressure as paired with the USD dollar, this week. BCH/USD as noticeably resumed the decline in value dated back to the sudden fall that occurred on June 10. Afterward, the crypto asset resumed into ranging move between June 11 and June 21. On the following day, the bears were once again able to push the market worth southwards.
The last time that the pair experienced the lowest price value was on April 6. The 14-day SMA is below the 50-day SMA. The two SMAs are still seen bent slightly toward south. The Stochastic Oscillators have dipped into the oversold zone but are now oscillating closely below range 20. This implies that the bearish trend is getting weaker slowly.
The bears tend to still have the element of denying the bulls of the chance of making any significant headway in the current market bearish trend. Any strong notable signal for the bulls to successfully dabble back into the market will have to be supported by a long bullish Japanese candlestick. Investors can stay watchful of the market happenings for a while to detect good buying price value of the crypto asset. But, traders can continue trading along the bearish trend while it is convincingly and safely deemed fit to exert the action with sound financial guides.
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.