- BCD/USD market has been somewhat under selling pressure in both the medium and short-term outlooks.
- It’s unadvised to join the market bearish trend during slow-moving price action.
BCD/USD Medium-term Trend: Bearish
- Supply levels: $1.60, $1.80, $2
- Demand levels: $0.80, $0.60, $0.40
The market movements of BCD/USD have been very steadily slow trading downwards to the south. Lately, the pair’s price traded in a range. It must as well be noted that the crypto’s downwards movement hasn’t been that forceful in the market until now.
The Bollinger Middle Band and the 50-day SMA have both touched around $1.30 mark. The Stochastic Oscillators slantingly bent southwards towards range 20, and they still slightly indicate a downward price movement is ongoing in the BCD/USD trade.
Trading activities may be suspended for a while to have a good set-up. And, the expectation is that the bulls will be favor in the medium run.
BCD/USD Short-term Trend: Ranging
There have now been significant choppy price movements in the market worth of BCD/USD today. The pair also witnessed a set of different range movements during yesterday’s trading operations. The Bollinger Upper Band and the 50-day SMA are located near $1.30 mark above the present trading area of the market. The Stochastic Oscillators have slightly conjoined a bit over range 40 to point south-east.
The bears are still somewhat in control of this cryptocurrency, but may not be able to push past a low mark at $1. Around that price point, there could be a pull-up to signify the possibility of the bulls’ launching a decent coming back in the market.
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