Bitcoin Cash -1.66% bounced nicely after dipping into the demand zone around $430 and has made a higher low after bears tried to breach lower into support a few days ago.
The EMAs had bounced but are looking to turn back lower again here if we cannot push higher. We just dipped into demand and are currently right on top of the zone and it buyers can step in here and propel us back above the EMAs, we can possibly get back up to the supply zone that was tapped on that spike up Monday.
Stops can be placed right below this support area as a break below could result in a retest of the $430 block. As always, watch Bitcoin -0.57% for any signs of weakness or breakdown to exit the trade early.
Thanks guys
The EMAs had bounced but are looking to turn back lower again here if we cannot push higher. We just dipped into demand and are currently right on top of the zone and it buyers can step in here and propel us back above the EMAs, we can possibly get back up to the supply zone that was tapped on that spike up Monday.
Stops can be placed right below this support area as a break below could result in a retest of the $430 block. As always, watch Bitcoin -0.57% for any signs of weakness or breakdown to exit the trade early.
Thanks guys