Bitcoin Cash: Price Analysis, June 01

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BCH/USD

Bitcoin Cash has not been able to find buyers after rising above the downtrend line. It formed a doji on May 30, followed it up with an inside day on May 31 and is likely to make another doji today.




BCH/USD

The BCH/USD pair has a tendency to trade in a tight range for a few days before making a decisive move.

On the upside, the 20-day EMA will act as a resistance, above which a rally to the 50-day SMA is possible.




On the downside, $878 and $750 are the supports to watch out for. We suggest waiting for the price to sustain above the 20-day EMA for initiating any long positions.

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