Bitcoin Cash (BCH) Technical Price Analysis, June 18, 2018

Bitcoin Cash (BCH)

Bitcoin Cash has found support close to the intraday lows of June 13. Any pullback will face resistance at the downtrend line.

Periodically, the BCH/USD pair enters small trading ranges before breaking out or breaking down from it.

A break out of the 20-day EMA will be the first indication of a change in trend. Traders can initiate long positions if the price sustains the $1,000 mark with a target objective of $1,200 and $1,500. The stops can be placed below the $800 levels.

A breakdown of the $817.8709 levels can extend the down move to the next support zone of $777.5304-$736.0137.

This is a risky trade, hence, please keep the allocation size 40 percent of usual size.