Crypto Screener Forums Bitcoin Cash (BCH/BCC) Forecast – Technical Analysis Bitcoin Cash (BCH/BCC) Price Analysis – July 2018

This topic contains 2 replies, has 2 voices, and was last updated by MrHanna MrHanna 6 months, 3 weeks ago.

Viewing 2 replies - 1 through 2 (of 2 total)
  • Author
    Replies
  • #18032
    MrHanna
    MrHanna
    Moderator

    Bitcoin Cash versus the US Dollar 1 Day candle chart.

    bchusd price prediction 31 July 2018

    Adam & Eve double top on the one day, RSI gone below 50, retest of the previous supports in play.

    Support: $650 – $750

    Resistance: $870 – $900

    Market is not very volatile right now, should we get the drop, support should be solid.

    Should support fail, possible SHORT, for the short term.

    Possible breakout above $900, keep an eye on the price action, be patient and wait for the breakout, or get ready to buy the dip. Safe trades.

     

    #17941
    margincall
    margincall
    Keymaster

    Bitcoin Cash has been mirroring Bitcoin vs USD to some degree, we can see similar price action in the markets.

    bchusd price forcecast 18 July 2018

    As we can clearly see there is some selling action between $800 – $900, this is expected as some traders are locking in their recent gains. Corrections in the market after market movements like this is quite normal.

    I would expect the shorter term support to get tested before we attempt to go to higher price levels vs the US Dollar. Traders looking for fiat gains can look towards Bitcoins perfomance and trade accordingly.

    Resistance is around $900 and the next leg up will come after this resistance zone gets bought up by the bulls. Lets have a quick look at the price performance against Bitcoin.

     

    bchbtc price forecast 18 July 2018

    Bitcoin Cash is looking quite strong versus Bitcoin and I would expect some good gains vs the USD and other Fiat markets, should this trend continue.

    So far we can see that the price is finding good support around the 20 MA, dips being bought up by the market participants.  Keep an eye on the momentum for the next big price movement, should it occur.

     

Viewing 2 replies - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.