#1509
CheesePuff
CheesePuff
Moderator

Let’s take a look at the Bitcoin Cash market after the sell off.

BCH USD forecast 3 Feb 2-18

Prices dropped from 1 700 to 1 000 usd in the last week and a half.

We can now see these low prices being bought up, and the market is busy recovering. However we are still in a longer term bear trend and prices will need to consolidate a lot higher to confirm the bullish momentum.

We see strong support around 1 000 for the short term, and resistance is around 1 300.

With Asia still on holiday we will have to wait and see if any more buying volume still comes to the crypto markets before celebrating. Should we fail to push through 1 300 we will probably get some sideways movement between these levels.