BCH/USD Market Features at $600 – October 14
There has been a continued range of trading situations in the BCH/USD activities as the crypto market features at a $600 level. The trade keeps a pace of about 1.44 percent, trading around the line of $601.
Market Features at $600: BCH Market
Resistance levels: $700, $900, $1,100
Support levels: $500, $400, $300
BCH/USD – Daily Chart
The BCH/USD daily chart reveals that the crypto market features at $600 as tinier-lengthy candlesticks characterized ups and downs also appear, representing the trading situations. In recent times, the 14-day SMA trend line slightly moved southward beneath the 50-day SMA trend line. But, it has turned up to conjoin with it from the below. The bullish trend line drew beneath the SMAs, playing a supportive role to them. The Stochastic Oscillators have briefly crossed the lines southbound against the range line at 80. That suggests that the market is somewhat under mere pressure.
When will there be aggressive forces in the BCH/USD price valuation as the market features at the $600?
There won’t be any aggressive forces in the BCH/USD price valuation as long as the two market gladiators remain not creating much impact on this crypto economy as the market features at a $600 level over a couple of sessions. Nevertheless, the moment there are downs below the value line mentioned earlier, there will be an opportunity to get buying entries.
On the downside, some degrees of price rejections have showcased around the level of $600, creating a sell entry position. But, as there are not many active price motions around the line, it may be risky that bears dwell too long on any opened position thereon. Price moving down further at that trading level may in no time get a rebound to cause bear’s trap.
BCH/BTC Price Analysis
In comparison, the BCH/BTC cryptocurrency pair market features a lower trading zone underneath the trend lines of the SMAs. That means that the base crypto’s trending weight is overwhelmed by the counter crypto. The 14-day SMA indicator is below the 50-day SMA indicator. The Stochastic Oscillators have moved southbound closer to the range of 40. And they have closed the lines seemingly in an attempt to point to the north. That could mean that the base crypto is making the grand to gain back its strength pairing with the flagship counter crypto.
Looking to buy or trade Bitcoin Cash (BCH) now? Invest at eToro!
67% of retail investor accounts lose money when trading CFDs with this provider.