Bitcoin Cash Price Technical Analysis – BCH/USD Consolidating above $1,150


Key Points

  • Bitcoin money worth is buying and selling inside a variety, however it’s holding the $1,150 assist space towards the US Dollar.
  • There is a short-term connecting bearish pattern line forming with resistance at $1,240 on the hourly chart of BCH/USD (knowledge feed from SimpleFX).
  • The pair has to maneuver above the $1,250 and $1,350 ranges to realize upside momentum.

Bitcoin money worth is at present consolidating above $1,150 towards the US Dollar. BCH/USD should break a few key resistance corresponding to $1,350 to commerce additional increased.

Bitcoin Cash Price Range

There was a short-term excessive fashioned across the $1,370 degree in bitcoin money worth towards the US Dollar. The worth began a minor draw back correction from the $1,370 excessive and declined beneath $1,300. There was additionally a break beneath the 23.6% Fib retracement degree of the upside wave from the $935 low to $1,370 excessive. It opened the doorways for extra declines and the worth examined the $1,150 assist together with the 100 hourly easy transferring common.

Moreover, the worth nearly examined the 50% Fib retracement degree of the upside wave from the $935 low to $1,370 excessive. The talked about $1,150 assist is a significant purchase zone and it looks as if the worth is holding the said degree very properly. At the second, the worth is buying and selling inside a variety above the $1,150 degree. On the upside, there’s a short-term connecting bearish pattern line forming with resistance at $1,240 on the hourly chart of BCH/USD. The pair has to maneuver above the pattern line and settle above $1,250 to retest the $1,300 degree. Above $1,300, the worth could retest the $1,350 resistance.

Bitcoin Cash Price Technical Analysis BCH USD

On the draw back, the $1,150 assist holds loads of significance and it should maintain to keep away from additional slides.

Looking on the technical indicators:

Hourly MACD – The MACD for BCH/USD is generally flat.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is trying to maneuver above the 50 degree.

Major Support Level – $1,150

Major Resistance Level – $1,350

Charts courtesy – SimpleFX

Comments

comments

What's Your Reaction?

Angry Angry
0
Angry
Cute Cute
0
Cute
Fail Fail
0
Fail
Geeky Geeky
0
Geeky
Lol Lol
0
Lol
Love Love
0
Love
OMG OMG
0
OMG
Win Win
0
Win
WTF WTF
0
WTF

Bitcoin Cash Price Technical Analysis – BCH/USD Consolidating above $1,150

log in

reset password

Back to
log in
Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Open List
Open List
Ranked List
Ranked List
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF