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FxWirePro: BCH/USD sell opportunity

Thursday, January 4, 2018 11:08 AM UTC

BCH/USD has broken strong support at 2385 on 2H charts, bias bearish.

The following technical indicators support downside:

- 2H 5-SMA sharply lower, 20-SMA has turned.

- -ve DMI dominance, ADX above 25 and rising.

- Stochs and RSI are sharply lower.

- Bollinger bands are widening.

- Gravestone Doji formation on daily charts.

Support levels - 2257/ 2207/ 2187

Resistance levels - 2400/ 2470/ 2500/ 2525

Recommendation: Short rallies around 2400, SL: 2480, TP: 2300/ 2230/ 2200

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FxWirePro: BCH/USD sell opportunity

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