BCHUSD on small volumes yesterday increased in price. Unfortunately, buyers have not shown their strength, so there may be a continuation of the downward movement. According to the volume analysis, the nearest resistance level for Bitcoin Cash is: $ 1280, and support levels: $ 1200, $ 1100.
Priority of the day: neutral position on BCHUSD.
Bitcoin Cash has not yet overcome the descending inclined line of the channel, so it's hard to say where it will go today.
Projected scenarios:
1. Buy BCHUSD from $ 1200 to $ 1280.
2. Sell BCHUSD from $ 1280 to $ 1100.
An alternative scenario:
BCHUSD may end up in a narrow corridor until the end of the day. Therefore, we recommend our subscribers not to trade today.
Priority of the day: neutral position on BCHUSD.
Bitcoin Cash has not yet overcome the descending inclined line of the channel, so it's hard to say where it will go today.
Projected scenarios:
1. Buy BCHUSD from $ 1200 to $ 1280.
2. Sell BCHUSD from $ 1280 to $ 1100.
An alternative scenario:
BCHUSD may end up in a narrow corridor until the end of the day. Therefore, we recommend our subscribers not to trade today.