Currently, we sitting on the round number area at $500. We have tried to break this two times and those attempts were unsuccessful and currently the last 4h candle close gave us a minor break below the $500 (close was $499.5) and currently the last 4h candle formed a pattern called "Dragonfly doji"/"Hammer" which indicates that the trend could turn around so, we have mixed sings :)
If we start to fall further from the round number then our next support would be 2018 low which is at $471.1. If this level doesn't hold us then there are the minor level where Bitcoin' Cash' started rally upwards from last year but I think this level is just a good to know and if we drop below 2018 low then we are in a big trouble and we could even touch the $300, there is the bottom trendline pulled from the daily chart!
If You want to search a bounce zone then technically there are no good areas where multiple criteria would meet but if Bitcoin' founds a support from the current price then we could see a little bounce from here around $500 because currently, this level hols us pretty well.
Summary: If the 2018 low breaks we are in a big trouble and if You look for a bounce and some quick profits then here is the opportunity BUT ONLY then when Bitcoin' shows some positive signs!!
If we start to fall further from the round number then our next support would be 2018 low which is at $471.1. If this level doesn't hold us then there are the minor level where Bitcoin' Cash' started rally upwards from last year but I think this level is just a good to know and if we drop below 2018 low then we are in a big trouble and we could even touch the $300, there is the bottom trendline pulled from the daily chart!
If You want to search a bounce zone then technically there are no good areas where multiple criteria would meet but if Bitcoin' founds a support from the current price then we could see a little bounce from here around $500 because currently, this level hols us pretty well.
Summary: If the 2018 low breaks we are in a big trouble and if You look for a bounce and some quick profits then here is the opportunity BUT ONLY then when Bitcoin' shows some positive signs!!