BCH/USD(Bitstamp)
As mentioned in the previous article last week, Bitcoincash has been under correction(dropping) and it dropped further 20%+ since last week.
Bullish Case:
After surging 200%+ in the mid of December, It has dropped 50% at the time of writing.Though such drop is usual after such price surge but it need to holds $123-$109 price level to continue bullish momentum.Bullish confirmation will be when it breaks $220+ level in the coming days/weeks with a target around $350+ price level
Bearish Case:
If it doesn't hold the $123-$109 then it will slightly bearish for the asset and we might see the price fall below $100 in the coming days/weeks.
As mentioned in the previous article last week, Bitcoincash has been under correction(dropping) and it dropped further 20%+ since last week.
Bullish Case:
After surging 200%+ in the mid of December, It has dropped 50% at the time of writing.Though such drop is usual after such price surge but it need to holds $123-$109 price level to continue bullish momentum.Bullish confirmation will be when it breaks $220+ level in the coming days/weeks with a target around $350+ price level
Bearish Case:
If it doesn't hold the $123-$109 then it will slightly bearish for the asset and we might see the price fall below $100 in the coming days/weeks.
Trade closed: target reached