Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forks => Bitcoin Forum => Bitcoin Cash Forum => Topic started by: PRIBO247 on December 11, 2018, 06:04:55 PM
-
Bitcoin Cash has been continuing to trade in an important
range around $100 for the past several days after a sharp
decline took place spurred by a hard fork of the network which
resulted in two separate networks forming. Price has moved
from $630 around one week to prior to the hard fork in mid-
November to a 2018 low around $93.
Bitcoin Cash entered into a similar trading range around $170
to $190 before continuing on its downward trajectory. It is
likely that Bitcoin Cash will also continue on its downward
trajectory after this trading range given the current state of the
market. Conditions are extremely bearish with many
cryptocurrencies including market leader Bitcoin forming 2018
lows.
We may be approaching the end of this trading range and
continuing to move to the downside with price declining from
around $100 today to trading near the lower end of the range.
Momentum is on the side of the sellers with both RSI and
MACD decreasing to the downside.
Key Takeaways:
* Bitcoin Cash has been trading in a range around $100 to
$93 after a prolonged decline which has taken place since
a hard fork in mid-November.
* Bitcoin Cash has depreciated from $630 where it was
priced one week prior to last months hard fork.
* Bitcoin Cash will likely continue to decrease as it has
continued to decrease to the lower end of the trading
range. Short-term momentum is on the side of sellers with
both the RSI and MACD decreasing.
Source : https://blokt.com/