Chicago 12, Melborne City, USA

Forex Analysis & Reviews: 23.06.2022

Relevance up to 12:00 UTC + 00

Exchange Rates 23.06.2022 analysis

Technical outlook:

Bitcoin Cash grew above $ 117.00 intraday on Thursday after finding support at around $ 112.00 on Wednesday. The crypto is seen to be trading close to $ 116.00 at this point in writing and is expected to resume higher towards $ 210.00 in the near term. Bulls will be poised to hold prices above $ 106.00.

Bitcoin Cash seems to have completed its larger degree corrective drop, which had begun from $ 165.00 earlier. The 5-3-5 zigzag structure is terminated at around $ 106.00 recently before bouncing back. If the above structure holds well, prices will stay above $ 106.00 going forward and will push through the $ 210.00 initial resistance.

Bitcoin Cash has alco carved a lower degree upswing between $ 106.00 and $ 124.00 recently. Prices have already retraced the above upswing and found support at around $ 112.00 which is close to the Fibonacci 0.618 level (not shown here). Bulls will be poised to come back in control from here on.

Trading plan:

Potential rally through $ 210 against $ 106.00

Good luck!

* The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Oscar Ton,
Analytical expert of InstaForex
© 2007-2022

Benefit from analysts’ recommendations right now

Top up trading account

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade

My name is Lawrence. I am one of the most famous forex trading schools. The purpose of creating this project is not only to give working advice on the Forex market, but also to warn beginners from fraudulent projects. Here we publish reviews of all Forex training scam projects, and professionally train those who have just decided to enter this niche.

    Leave feedback about this

    • Quality
    • Price
    • Service


    Add Field


    Add Field
    Choose Image
    Choose Video