BCH Price Analysis - August 22, 2018
BCH is currently at spot #4 in terms of total market capitalization.
At the time of writing, BCH price is currently sitting at $549, slightly above from our last analysis. Following in the footsteps of its bigger siblings, it took a hit and broke through the $540 support before bouncing back. It wasn't as bad as we'd expect and actually bounced well above the $500 support level and breached through $540 again.
On the short term we'd monitor to see if it can continue to hold $540, and we're hoping for signs of consolidation before an attempt t $590 if it can get enough buying interest to push it up that far. On the downside and with a bearish outlook, unfortunately it would look more like ranging from $500 to $540. If it somehow breaks below $500, we'd be looking at $475.
On the daily chart for BCH, technical indicators give a bearish outlook although slightly better than the last update (13 sell, 10 neutral, 3 buy)
On the weekly chart for BCH, technical indicators give a similar outlook (11 sell, 9 neutral, 2 buy)
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