Crypto_Terminal_Chris

Bitcoin Cash stuck between a rock and a hard place!

BITFINEX:BCHUSD   Bitcoin Cash / U.S. Dollar
Bitcoin Cash             continues to trend sideways in this range but finds itself right under a massive POC , which currently happens to be resistance. Seeing that we are having tons of trouble getting higher and with the EMAs turning over, we could see price depreciation coming very soon to demand level below unless we get a pop soon.

Keep an eye on this supply zone and any further rejection with volume will confirm its strength.

Thanks guys
Comment: We see that price has come straight down right into the demand zone and pushed right back out! We can get a retest of the resistance now above at $467 before continuing lower again!
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people interested in BCH could see very attractive entry levels very soon, I can see this testing 514/420 and if that does not hold look out below because I do not see a lot of support until the 320-330 level but I am not a pro
Reply
@phil155, as you can see on the chart, we had trouble breaking that resistance level and we can down to the demand zone, bouncing exactly in that block! One could have orders placed anywhere in there and they would be very happy right now! We need to bounce from there or we will see $400 again!
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Thnx
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Thanks
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