Bitcoin Cash has moved from consolidation to correction, as reported by Moving Averages - that moved into the sale on the daily chart. On the weekly chart, this trend indicator is still in the purchase.
The day before yesterday's surge in volume at an increase in prices shows that buyers continue to control the market.
The current level of $ 1150- $ 1250 is a fairly reliable level of support, which steadily gives a significant customer demand. And it is quite suitable for opening a long position.
At the same time, the potential for further correction (according to the graphic patterns and sizes of the previous growth wave) is still there.
On the chart, we see that in the case of breaking the support level at $ 1150- $ 1250, further support levels will be $ 900 and a stronger $ 600.
Now, only a short strait to the specified levels is possible.
If the market holds below $ 1150 for more than two consecutive days, we will change the recommendation to "Hold"
In the meantime
Recommendation: Buy
Charts available on
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