Bitcoin Cash: Price Analysis, June 08

1

BCH/USD

Bitcoin Cash sustained above the 20-day EMA for the past two days, but the bears are trying to push prices below the 20-day EMA today. The short-term moving average is flat whereas the long-term moving average is rising. The RSI has also turned flat near the midline. This increases the probability of consolidation in the near term.




BCH

A break below $1060 will tilt the advantage in favor of the bears while a breakout of the $1306 levels indicates advantage bulls.




The BCH/USD pair periodically enters such small ranges before breaking out or breaking down from it with force. We shall wait for a confirmation of the commencement of the up move before recommending any long positions in it.

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