Crypto Screener › Forums › Bitcoin Cash (BCH/BCC) Forecast – Technical Analysis › Bitcoin Cash (BCH/BCC) Forecasts – December 2017 › Reply To: Bitcoin Cash (BCH/BCC) Forecasts – December 2017
Having a look at the Bitcoin Cash markets for a quick update.
We can see that we dropped below our Long Term buying zone, this is no reason to panic.
The RSI indicates oversold conditions on the shorter term and this should give us a good idea where the bulls are hiding. I have a feeling we will push back into the 0.1 zone when BTC decides to calm down.
As always this is just my opinion and analysis on the markets, please do your own research before trading crypto.
Taking short term look at BCH vs the USD.
Using the 1day candles we can get a better view of what is going on with the market. BCH is still in a strong uptrend from the $300 zone, but as we can see on the chart the sellers stepped in from about 1800 and we are testing 1300 as I write this report.
Should 1300 fail, I see the next big support level around $1000
This market is very bullish with great trading volume around the world, I expect buyers to step in should we dip to 1k so it could be wise to place some buy orders down the line.
Please note this is all my opinion, do your own research before investing in Crypto!