BCH Price Prediction – February 15
The market-worth of BCH/USD has managed on February 13 after a series of long-short bullish candlesticks from low support at $400 mark to trade around a higher value of $700 as looked against the previous high point of $600.
Resistance levels: $800, $900, $1,000
Support levels: $500, $450, $400
BCH/USD – Daily Chart
Between yesterday’s trading session and as of writing, the BCH/USD trading candlesticks still form around the $700 high-value. But, it currently appears that today’s candlestick may pose a signal to start a correctional move around the high price line in the near time. The two SMA trading indicators are distanced below the present market trading zone as they point towards the north indicating that buying pressures are still ongoing to some extent. The bullish trend-line has drawn to the $600 line; expectantly to serve as the first key support line around that bulls may re-pick their stance in the crypto-market. However, the Stochastic Oscillators have dipped into the overbought region. They now crossed the hairs briefly within it to point to the south. That signifies the possibility of seeing the crypto-trade witnessing a small reduction in its current price-appreciation soon.
What could be the next BCH/USD market moves?
Being as it is, upward price moves of the BCH/USD have to some degree used up by bulls. Hence the reason for the moment slight retracement. Earlier on, the previous high value at $600 was touched during today’s slight downward moves. Bulls are most likely not giving a cheap chance to quick free-falls at the level mentioned earlier. In that wise, they may be finding or building up support around it.
Bears’ potential decent entry isn’t visible around the current high mark of $700. Meanwhile, a quick reversal of any possible spike against the immediate resistance value at $800 may be a better entry point for the BCH/USD trade-bears. But, their re-surface in the market may not go along the way below the support of the $500 level. Traders considering going short in this crypto-market, need to back up their entry with very active price action before joining.
BCH/BTC Price Analysis
Comparing BCH to BTC price moves, it appears that the base-crypto is yet not being far from being under falling pressures. The former seems very weak in pushing past a previous resistance again in its present northward-striving journey closer below the value of $0.016. The 14-day SMA is underneath the 50-day SMA slightly pointing towards the north. The Stochastic Oscillators are into the overbought region seemingly attempting to cross the hairs within it. That suggests that there can be the possibility of the market witnessing a feature of variant range-price movements. And, that can eventually lower the base-crypto’s value again towards its usual reduced point as in the recent past.