The price of Bitcoin Cash was trading in range this morning with supply zones at $1000, $900, $800 and demand zones at $100, $200 and $300 medium-term. The price of Bitcoin Cash is range bound medium-term and the bears are preparing for a come back after they formed a doji around $460 on the 15th of September. By September 16, Bitcoin Cash was trading at $425 which happens to be in the demand area. There was a bullish return after a hammer was formed at the demand area pushing the price back to the supply area at $452.00. The bullish momentum was sustained by the 4-hour opening candle at $450.50 and the price of Bitcoin Cash went up to the $463.40 level. This was in the supply area.
SEE ALSO: Cryptocurrency Ratings: Ethereum and EOS (B), Steem, Neo and Cardano (B-), Bitcoin, Dash and Litecoin (C+), Monero and Ripple (C), Bitcoin Cash (C-) / Digital Currency Ratings – Mon Sept 17
Bitcoin Cash (BCH) Price Today – BCH / USD
Medium-term, the price of Bitcoin Cash moved above the 10-EMA. The stochastic oscillator was at 71% with signals pointing up to show that the bulls are putting pressure in the market and an upward movement may be on the way. The price of Bitcoin Cash is trading in range between $415.00 in the demand area and $500.00 in the supply area. Before you make any long term trades, wait for a breakout or breakdown of the upper and lower area respectfully.
Bitcoin Cash (BCH) Short-term Analysis
Short-term, Bitcoin Cash is bullish against the USD. The bears have become exhausted and lost momentum from the $425.10 which is in the demand area. Before the end of yesterday’s trading session, the bulls came back to the game to confirm that there was a bullish candle around $454.2. The Fibonacci retracement level shows that there is a pullback within 23.6 and the bulls may test the 38.2 level soon. The pullback will enable price correction.
At the time of writing, Bitcoin Cash was trading at $446.78. This indicates a 2.40% rise against the USD and a 2.25% rise against Bitcoin. The price keeps forming higher highs and lower lows.