Bitcoin Cash failed to pass the 61% Fib level, at $1244. That level is also protected by the green 50 EMA. Below that, we find the 78% level (at $1079) and the 50 & 100 SMA, in yellow and blue. Those lines are flat now, suggesting BCH is going sideways for the next days.
Below that, BCH found support at $870, which was the lowest point in past May. Also worth noticing the psychological support at $1000, which held during the past week, and was the point where BCH broke out from the downtrend, signaled by the orange trendline.
Volume on the daily chart is slowly decreasing as during the past days. RSI is pointing down to signal that BCH needs to correct before another rally up.
Today BCH briefly touched the 78% Fib level, before bouncing back. This could be a trend continuation signal. If it fails, a further dip to retest the lower levels ($1000) is possible. Just below $1000 levels, BCH has $870 - $740 - $600 as a previous support region.
In another scenery, a break and close above the EMA(20), in yellow at $1,100, is needed for buyers to take control. Above $1,110 the next stop for buyers could be around the $1,244 level, which was tested for 3 times in April, before the rally to $1849 high.
Below that, BCH found support at $870, which was the lowest point in past May. Also worth noticing the psychological support at $1000, which held during the past week, and was the point where BCH broke out from the downtrend, signaled by the orange trendline.
Volume on the daily chart is slowly decreasing as during the past days. RSI is pointing down to signal that BCH needs to correct before another rally up.
Today BCH briefly touched the 78% Fib level, before bouncing back. This could be a trend continuation signal. If it fails, a further dip to retest the lower levels ($1000) is possible. Just below $1000 levels, BCH has $870 - $740 - $600 as a previous support region.
In another scenery, a break and close above the EMA(20), in yellow at $1,100, is needed for buyers to take control. Above $1,110 the next stop for buyers could be around the $1,244 level, which was tested for 3 times in April, before the rally to $1849 high.