In this the Bitcoin Cash price outlook, BCHUSD is in the oversold region of the daily stochastic while above the 20% range, an indication that the pair is in a bullish momentum.
Bitcoin Cash Price Outlook
Bitcoin Cash (BCH) price was in a bullish trend yesterday to retest the overhead resistance level. From the price action, Bitcoin Cash price is below the 12-day and the 26-day Exponential Moving Average (EMA) after the downward correction. On the upside, if BCH bulls break above the EMAs the Bitcoin Cash price will rise to retest the $440 overhead resistance level. On the downside, if bulls are unable to break above the EMAs, the Bitcoin Cash price will drop and range below the EMAs.
From the Fibonacci retracement tool, Bitcoin Cash price is not yet in the support level of the 0.382 Fib. retracement level. BCH bulls have to break above the EMAs for the price to be in the continuation zone of the Fib. retracement level. In the meantime, the Bitcoin Cash price is in the oversold region of the daily stochastic while above the 20% range, an indication that the price is in a bullish momentum and buy signal.
BCHUSD Price Short-term Outlook
As the 1-hour chart shows, BCHUSD price is in a bearish trend zone. The 12-day and the 26-day EMAs are trending southward after BCH bulls met resistance at $436 overhead resistance. On June 17, BCH bulls met resistance twice, as a result. BCHUSD price dropped below the EMAs to a low at $404 price level. In the meantime, the BCHUSD price is in the oversold region of the daily stochastic while above the 40% range. This implies that BCHUSD price is in a bullish momentum and buy signal.
- Resistance Levels: $420, $430, $440
- Support Levels: $410, $400,$390
Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The Information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.