Bitcoin Cash Value is down by 7.42% on Friday's trading session. The price is below 20 and 50 days EMA, and it can move towards the support level of $391. One can further expect a short term recovery in the coin for a while, and then it can be bearish in the upcoming trading session.
Resistance: $494.39
Support: $391.10
After a quick look the price has recently broken a Daily resistance "darker blue line" conforming my buying bias.
After that waited for it to get the cheapest possible in the current context, ps: waited a little too long, actually I've entered pretty late, but the R/R remains strong with this one.
Either way it's all fun and remember i'm a random guy on the...
Bitcoin Cash / USD Short-term price analysis
BCH has a neutral short-term trading bias, with the BCH / USD pair now testing towards its 200-period moving average on the four-hour time frame.
The four-hour time frame is currently showing that the BCH / USD pair is attempting to recover from early week losses, while any presence of bullish MACD price divergence...
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...
