BCH/USD
Long-term Trend – Bullish
Distribution territories:
$650, $750, $850.
Accumulation territories: $350, $250, $150.
Accumulation territories: $350, $250, $150.
Most of the price movements
of BCH/USD had been in a range-bound region over a week. The ranging movements
were featuring in the market of this crypto from Sept. 16 till 20. On Sept. 21,
a notable short spike occurred, and the 14-day SMA’s trend-line was breached
northwards above the price territory of $500.
The market price line has
been traded around the low price point obtained on Aug. 14 but now averaging
towards the 50-day SMA’s trend-line from below. The 50-day SMA is located above
the 14-day SMA. The Stochastic Oscillators have moved upward well above range
20. They now point north below range 80 to still showcase a continuation of
probable northward price movement.
The last spike that brought
about the short bullish Japanese candlestick may be proven not strong enough
while a strong reversal price action breaks past it southwards. A set of
various lower lows and lower highs may come to play in the next few days while
the immediate distribution territory of $650 remains unbroken-out. Investors
may either join the market below the trend-line of 50-day SMA or wait for a
smaller dip around the 14-day SMA’s trend-line.
The views and opinions
expressed here do not reflect that of BitcoinExchangeGuide.com and do not
constitute financial advice. Always do your own research.
Source: https://bitcoinexchangeguide.com
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