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Bitcoin Cash (BCH/USD) Nears $800 Barrier-line

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Bitcoin Cash (BCH/USD) Nears $800 Barrier-line

Bitcoin Cash Price Prediction – June 4
Some amount of trade barriers have piled up over a couple of sessions at around the BTC/USD market level of $800. The crypto’s price now trades around 657 value as of writing at a rate -8.41% decrease.

BCH/USD Market
Key Levels:
Resistance levels: $900, $1,100, $1,300
Support levels: $500, $400, $300

BCH/USD – Daily Chart
The BCH/USD daily chart reveals that the crypto market operation has been held down below the trading level of $800. The 14-day SMA trend-line is located under the bearish trend-line drew as they are now at the point mentioned earlier. The 50-day SMA indicator is situated underneath them. The Stochastic Oscillators have unwittingly opened the lines into the overbought region to suggest the possibility of seeing a pause in the upswing very soon. Going by most of the trading indicators’ reading, it appears that the crypto economy will most likely witness a drawdown afterward.

When will the BCH/USD market break the $800 barrier-line?
From every indication, the BCH/USD market’s barrier-line at $800 tends to remain emphatically trading zone until some of the next trading activities. The market level of $600 also appears as the lower point serving as the range-bound area. A push down below the point, the BCH/USD bulls may find support to regain decent entry for a buy order. In the meantime, buy orders may have to put on hold for a while as there has been no reliable trading formation for it as of writing.

The BCH/USD market’s barrier-line at $800 has made it obvious that that point has to be the key resistant trading zone impeding some of the upward moves being attempted by bulls in the crypto market. Therefore, bears need to make the best use of the area for a re-launch of their entries. However, an eventual sudden breakout of the barrier-line will push the crypto’s value to a higher level in the long run. The market lines of $800 and $400 needed to be wary of by bears not to get caged if they consider joining a downward move that may feature in or around them at a later operation.

BCH/BTC Price Analysis
In comparison, the BCH/BTC price analysis reveals a line of variant occurrences of higher lows above the buy signal side of the bigger SMA close below the sell signal side of the smaller SMA. The 14-day SMA trend-line is a bit bent down on the current trading situation as the 50-day SMA is a bit bent toward the north to give the actual trending capacity to the base crypto as paired with the flagship counter crypto. The bullish trend-line drew to keep a supportive part of the bigger SMA indicator. The Stochastic Oscillators are seemingly attempting to move upward as they are located close to range 80. That portends that Bitcoin Cash is to some extent has the greater advantage to trend higher pairing with the most expensive crypto; Bitcoin in a near session.


Note: new.cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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