BCHUSD Consolidation on downward trend + summer lull
Bitcoin Cash has changed in the price insignificantly since the last review.
There has been a consolidation on downward trend around 8 months minimums. Along with that fast and low moving averages are above current rates and have slight decline technically creating downward pressure.
Still, summer lull reduces the chance of significant movements both up and down.
The quit from this consolidation down is technically more likely.
However, if this unmoving lasts for a long time, bulls will have an opportunity to start new bullish game. Both options are not likely to happen until autumn. Anyway, we monitor the situation.
There has been a consolidation on downward trend around 8 months minimums. Along with that fast and low moving averages are above current rates and have slight decline technically creating downward pressure.
Still, summer lull reduces the chance of significant movements both up and down.
The quit from this consolidation down is technically more likely.
However, if this unmoving lasts for a long time, bulls will have an opportunity to start new bullish game. Both options are not likely to happen until autumn. Anyway, we monitor the situation.
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