The price of Bitcoin Cash (BCH) has been trading in range Medium-term. The supply zones are at $1000, $900, $800 while the demand zones are at $100, $200, and $300. The cryptocurrency had a bullish wave this morning but the wave was short-lived and the bears quickly took control of the market pushing the price down from $463.50. A bearish railroad signal was formed to show that the bears were back in the game. The bears pushed the price all the way to $408.50 which was in the demand area. This happened on the 12th of September.
Bitcoin Cash (BCH) Price Today – BCH / USD
Today, the bulls were seen returning to the market gradually. The formation of a doji confirms that they are returning to the market. The stochastic oscillator entered the oversold region when it got to 15% with its signal pointing up. This shows that the bulls may pressure the market into an upward correction when the consolidation starts.
The Bitcoin cash to USD pair started trading in range this morning between $500 and $415 in the upper part of the supply area and the lower part of the demand area respectively. It’s important that you wait for a breakout or a breakthrough before taking any long term positions.
Bitcoin Cash (BCH) To USD Price Analysis Now!
The Bulls returned to the market short-term as the bears became exhausted after bringing the price down to $408.40 which was in the demand area. There was a bullish opening candle on the one hour price chart which was at $414.60. This candle kept the bulls active in the market. The price of BCH went as high as $423.00 this morning. It traded above the 10 EMA and above the stochastic oscillator in the oversold region. The signals of the stochastic oscillator on the short-term chart are pointing up suggesting that the bull may ignite an upward movement soon. This is according to the price analysis of Azeer M on Bitcoin exchange guide.
At the time of writing, Bitcoin Cash was trading at $418.95. This indicates a 6.30% fall against the USD and a 3.43% fall against Bitcoin. The trading volume over a 24 hour period is $342,429,618 while the total market capitalization is $7,270,700,545.
SEE ALSO: Bitcoin Cash (BCH) Trades In Range Against The USD And Bitcoin