Bitcoin Cash dey test $590 support, dey eye breakout pass $650
Bitcoin Cash price still dey inside one range after e first go up and come drop pass the $590 support level. For daily chart, Bitcoin Cash dey trade above main moving averages, wey show say e don get small uptrend before, but the 4-hour chart dey show say e just dey move sideways under the averages. Doji candlesticks dey show say market no sure wetin to do as BCH price dey waka between support for $590 and resistance near $650. Technical analysis show say big support zones dey for $500, $450 and $400, with resistance levels at $600, $625 and $650; if e fit break pass $650, e fit head to the 2018 peak around $719. Traders suppose dey watch well for any strong breakout or breakdown to sabi the next movement direction.
Neutral
Di price sef wey dey around $590–$650 show say market no sure, because Bitcoin Cash still dey above dia daily moving averages but e no fit find clear direction for shorter timeframes. Technical analysis show say support and resistance levels balanced, meaning say neither bulls nor bears get full control. If e break $650 sharply, e go mean bullish momentum dey, but if e fall under $590, e fit extend the bearish consolidation. Until dem break one of these levels, BCH price go likely to trade neutrally, e no go favor any direction wella both short and long term.