BCH Hammered

Bitcoin Cash has gotten hammered, clinging onto $1,200 for support. It is difficult to believe that just a few days ago this coin was in the $1,500's. BCH reacts wildly to bearish trends, but typically is slow to react to bullish trends. We've broken through support from the central moving average of the KRI at $1,271. We'll have support from Fibonacci levels at $1,144, $965, then the lower bound of the KRI at $936. If momentum reignites, we must conquer numerous levels in the $1,200's and $1,300's so that vacuum zone to $1,600 seems to be light years away. Levels of resistance from above include $1,271, $1,300, $1,400, $1,438, $1,500, and $1,522. The upper bound of the KRI will be the next point of resistance at $1,624, then after that, $1,764, the lower anchor of our nested Fibonacci levels, seems to be a reasonable target.

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