PRICE ANALYSIS
Bitcoin Cash Losing Momentum: Bitcoin cash is currently trading at $357.5. It crossed the 200 MA on 3rd April with very huge volume. Bitcoin cash has already crossed the primary trend line .50MA crossed the 100 MA on 2nd April. Currently the price trading in the uptrend. The trend seems to be in control of the bulls from mid-March. Global exchange.
But the trend is losing its momentum because of recent selling pressure and profit booking after the swing. From last one month, $269.7 is acting as resistance. Chances are we can encounter a correction up to $269.7.
RSI is at 61.8. MACD is also showing slowness in the momentum. Price is trading near the upper Bollinger band with heavy volume. Convergence line is moving above the baseline. If the market remains positive then after correction we can see swing up to $421.7. Global xchange.
STRATEGY
Globalxchange. Bitcoin Cash Losing Momentum: There are two levels on the charts Level 0 and Level 1. Level 1 is weak support and Level 0 is strong support.
Wait for the prices to cross the Level 1. If price respects the level 0 then wait for the price to cross level 1 again. After this take position for the target of $421.7. Global xchange.
On the other hand, Price level of around $168.1 can be seen if price crosses the Level 0 with the average volume.
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