Bitcoin Cash Price Technical Analysis BCH/USD Remains Bearish

Bitcoin Cash Price Technical Analysis  BCH/USD Remains Bearish

Key Points


Bitcoin cash price traded lower sharply and broke the $900 support level against the US Dollar.
There is a key connecting bearish trend line forming with resistance at $910 on the hourly chart of the BCH/USD pair (data feed from Kraken).
The pair may continue to move down and it could soon test the $850 level in the near term.

Bitcoin cash price is in a bearish trend below $950 against the US Dollar. BCH/USD is likely to extend declines in the short term towards $850 and $800.

Bitcoin Cash Price Resistance

There were continuous declines in bitcoin cash price from the $960 swing high against the US Dollar. The price broke the $950 and $900 support levels to set the pace for more losses. More importantly, the price settled below the $900 level and is currently well below the 100 hourly simple moving average. It recently traded as low as $867 and it may correct a few points in the short term.

An initial resistance is near the 23.6% Fib retracement level of the last decline from the $990 swing high to $867 low. Moreover, there is a key connecting bearish trend line forming with resistance at $910 on the hourly chart of the BCH/USD pair. The same resistance area is positioned around the 38.2% Fib retracement level of the last decline from the $990 swing high to $867 low. Therefore, the price may continue to face sellers if it moves higher from the current levels towards $900 and $910.


On the downside, the recent low at $867 may not hold for long. A break below $867 will most likely call for a push towards the $850 level in the near term.

Looking at the technical indicators:

Hourly MACD The MACD for BCH/USD is gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) The RSI for BCH/USD is now positioned well below the 40 level.

Major Support Level $850

Major Resistance Level $910

Charts courtesy Trading View

27.03.2018 / 21:10 29
Bitcoin Cash Price Technical Analysis  BCH/USD Short-term Bearish Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price failed to move above the $1,080 level and declined against the US Dollar. There was a break below a connecting bullish
Bitcoin Cash Price Technical Analysis  BCH/USD Could Move Higher Bitcoin Cash Price Technical Analysis
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
Bitcoin Cash Price Technical Analysis  BCH/USD Crashes Below $1,000 Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price declined sharply and moved below the $1,000 support against the US Dollar. There was a break below a crucial bullish
Bitcoin Cash Price Technical Analysis  BCH/USD Breaks $1,000 Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price declined further and it broke the $1,000 support against the US Dollar. There are two bearish trend lines forming with
Bitcoin Cash Price Technical Analysis  BCH/USD Declines Sharply Bitcoin Cash Price Technical Analysis
Key Points Bitcoin cash price extended declines and moved below the $1,100 support against the US Dollar. There is a new connecting bearish trend
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
Comments (0)
Add a comment
Comment on