Bitcoin Cash [BCH]
The 38.2 percent Fibonacci retracement range, which was located around the $560 mark, was a short-term goal for Bitcoin Cash bulls. Although this amount has only been broken once in the last three weeks, the bears have been quick to resist the northbound pass. As the OBV formed lower lows, the index was under selling pressure. In fact, a lack of purchasing activity could lead to a break from the 23.6 percent Fibonacci mark.
The RSI was pointing south from 40, suggesting instability in BCH’s short-term trajectory, but the bulls are expected to fight back at the press time price stage.
As Dogecoin made higher lows and steady peaks over the last 30 days, an ascending channel built on the 4-hour timeframe. A breakout from the upper trendline would offer a goal around the $0.07-resistance, but this would rely heavily on stronger market cues. With Bitcoin and Ethereum both trading below their recent all-time highs, DOGE can remain cautious within its current channel.
The MACD was bearish-neutral, and the Stochastic RSI was trending downward from the midpoint. In the event of a breakdown, the help at $0.048 could protect against more losses.
As the price traded between $10.13 and $9.16, the Bollinger Bands for Waves showed low volatility. This meant that major price fluctuations were impossible, and that a stabilisation period could last for many trading sessions. At the time of publishing, the Awesome Oscillator represented a balanced economy, but it was marginally tipped in favour of the bears.
When the press time channel was in equilibrium, it was a critical amount for both buyers and sellers. A sudden change in either direction might heavily tip the market in favour of the side that forces a breakout. WAVES could hit $11 in a bullish scenario, while a bearish scenario would illustrate support at $8.40.
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