• The short and medium-term outlook is in the bullish trend.
• Traders may consider buying at the key areas with bullish reversal candlesticks.

BCH/USD Medium-term Trend: Bullish

Supply zones: $500, $600, $700
Demand zones: $100, $50, $30

BCHUSD outlook in the medium-term is in a bullish trend. The strong pressure mounted by the bulls broke the upper supply area at $440.00 and shot price up to $467.82 on 22nd June. A retest of the broken area was achieved with a large bullish candle as the bulls took the coin up to $517.75 in the supply area.

The candle closed with a long wick is an indication of bullish exhaustion with the bears retaking control of the market. Price fell to $459.09 in the demand area which was the 50.0 fib a trend reversal zone.

The bulls comeback pushed the coin up to $478.52 in the supply area during yesterday session. The cryptocurrency was briefly up at $484.00 as the market opens today at $478.31.

Price is above the two EMAs that are fanned apart around the 50.0 fibs a trend reversal zone an indication of upward price movement. $517.40 in the supply area is up for retest as the bulls exert stronger pressure on the cryptocurrency.

BCH/USD Short-term Trend: Bullish

The cryptocurrency is in a bullish trend in its short-term outlook. The bulls took charge as the market opens at $470.59. Price rose to $484.31 in the supply area before the loss in momentum.

Although the brief bears' pressure broke the two EMAs and pushed price down to $463.00 in the demand area, the bulls remained dominant in the medium-term.

Price is back up at $474.75 above the two EMAs as price journeys up to $500.00 in the supply area as confirmed by the signal of the stochastic oscillator that points up at 41%.

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