Bitcoin Cash Price Prediction: BCH/USD lacks strong resistance levels upfront – Confluence Detector
- BCH/USD sellers are currently in control in the early hours of Thursday.
- Daily confluence detector shows that BCH/USD has healthy support at $232 and $231.
BCH/USD daily confluence detector
BCH/USD fell from $240.15 to $239 in the early hours of Thursday. However, if the bulls can take back control, they will be able to do some serious damage as the daily confluence detector shows a lack of strong resistance levels. On the downside, there are two healthy support levels at $232 and $231.
$232 has the one-day Pivot Point support-two and one-month Fibonacci 23.6% retracement level. In comparison, $231 has the one-day Fibonacci 161.8% retracement level, one-day Bollinger band lower curve and Previous Week low.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
