Short
BCHUSD Systematic decline leaves few chances for bulls
In last review we wrote about BCHUSD hanging above the key support near $ 600.
Since then the situation has become worse. Bidding has been going under $ 700 already. The market has been sagging peacefully and smoothly. Trend indicators give signal to sell. By experience, such market behavior most often leads to loss of support. There is one question left: will this drop be shallow and short (for stops' disruption in bears game) or deep and long with new levels (actually with return to last year numbers)? So far, it looks like things are developing under the second far-reaching scenario.
Along with that, rally up is very likely to happen if there is panic and turnaround of most traders' expectations. As we saw that in April.
Support is $ 600 and then $ 300.
Resumption is $ 900 and $ 1'200.
Profitable deals and follow our reviews!
Since then the situation has become worse. Bidding has been going under $ 700 already. The market has been sagging peacefully and smoothly. Trend indicators give signal to sell. By experience, such market behavior most often leads to loss of support. There is one question left: will this drop be shallow and short (for stops' disruption in bears game) or deep and long with new levels (actually with return to last year numbers)? So far, it looks like things are developing under the second far-reaching scenario.
Along with that, rally up is very likely to happen if there is panic and turnaround of most traders' expectations. As we saw that in April.
Support is $ 600 and then $ 300.
Resumption is $ 900 and $ 1'200.
Profitable deals and follow our reviews!
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