- BCH/USD continues to trade in a tight $50 range since Wednesday.
- Today’s shallow recovery doesn’t cause the near-term outlook to change from bearish to neutral.
- $650 stays as the next critical target on the downside.
Spot rate: 700
Relative change: +2%
High: 707
Low: 685
Trend: Bearish
Support 1: 650 (Jun 28/Jun. 29 low).
Support 2: 600 (Apr. 4/5 low/2018 low).
Support 3: 520 (Nov. 9, 2017, low).
Resistance 1: 730 (20-DMA).
Resistance 2: 780 (Fibo. %23.6 retracement of Jun. 3 – 29 fall).
Resistance 3: 860 (Fibo. %38.2 retracement of Jun. 3 – 29 fall).