Bitcoin Cash Price Technical Analysis BCH/USD Could Move Higher

Bitcoin Cash Price Technical Analysis  BCH/USD Could Move Higher

Key Points


Bitcoin cash price is slowly gaining pace and is currently trading above $950 against the US Dollar.
There was a break above a major bearish trend line with resistance at $925 on the hourly chart of the BCH/USD pair (data feed from Kraken).
The pair is now trading above the $940 support and the 100 hourly simple moving average.

Bitcoin cash price is trading nicely in a bullish zone against the US Dollar. BCH/USD may correct a few points, but it could find support near the $940-950 levels.

Bitcoin Cash Price Support

There was a slow and steady upside move initiated from the $903 swing low in bitcoin cash price against the US Dollar. The price traded higher and managed to move above a major resistance near $920. Moreover, there was a break above the $930 level and the 100 hourly simple moving average. The best part was a break above a major bearish trend line with resistance at $925 on the hourly chart of the BCH/USD pair.

The pair traded above the $950 level and tested the $1,000 resistance. A high was formed at $1,018 from where a downside correction was initiated. At the moment, the price is trading just below the 23.6% Fib retracement level of the last wave from the $903 low to $1,018 high. However, there are many supports on the downside near $940. The mentioned $940 level is also around the 100 hourly SMA. More importantly, the 50% Fib retracement level of the last wave from the $903 low to $1,018 high is at $961.


Therefore, it seems like there is a decent support forming near $940, $960 and the 100 hourly SMA. On the upside, a proper close above $1,000 could ignite more gains.

Looking at the technical indicators:

Hourly MACD The MACD for BCH/USD is decreasing its bullish slope.

Hourly RSI (Relative Strength Index) The RSI for BCH/USD is currently near the 60 level with positive signs.

Major Support Level $940

Major Resistance Level $1,000

Charts courtesy Trading View

19.03.2018 / 21:50 34
Bitcoin Cash Price Technical Analysis  Can BCH/USD Break This? Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price is currently recovering and is currently above the $900 level against the US Dollar. There is a crucial bearish trend
Bitcoin Cash Price Technical Analysis  BCH/USD to Break Higher? Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price is holding ground and is currently trading above the $1,040 support against the US Dollar. The BCH/USD pair is
Bitcoin Cash Price Technical Analysis  BCH/USD Holding Key Support Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price is trading above the $1,020 support and is currently in a positive zone against the US Dollar. There is a crucial
Bitcoin Cash Price Technical Analysis  BCH/USD Extends Decline Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price continued to trade down and it moved below the $1,200 support against the US Dollar. There was a break below a major
Bitcoin Cash Price Technical Analysis  BCH/USD Testing Key Support Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price was not able to move above the $1,280 and $1,290 resistance levels against the US Dollar. There is a key bullish trend
Bitcoin Cash Price Technical Analysis  BCH/USD Trading Positively Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price is gaining upside momentum and is currently trading above $1,250 against the US Dollar. There was a break above a
Comments (0)
Add a comment
Comment on