Bitcoin Cash market overview: BCH/USD sandwiched between SMA 200 and downward trending line
|- BCH/USD fell from $307.85 to $306 in the early hours of Wednesday.
- The Elliott Oscillator shows two straight bearish sessions.
BCH/USD has had two straight bearish days in a row. In the early hours of Wednesday, the price of BCH/USD has fallen from $307.85 to $306. This Tuesday, the price has fallen from $310.65 to $308.60. The hourly breakdown shows that the price fell from $310.65 to $305 this Tuesday before the bulls rallied back and took BCH/USD back up to $307. The bears then re-entered and took the price down to $304.60. The buyers came back strongly and spiked the price up to $312.15 before it corrected around $306.
BCH/USD daily chart
The daily BCH/USD chart has found resistance on the downward trending line and is trending below the 20-day simple moving average (SMA 20) and the SMA 50 curves. The market has found on the SMA 200 curve. The moving average convergence/divergence (MACD) has had eight bearish sessions. The relative strength index (RSI) indicator is trending around 45.75. The Elliott oscillator has had two straight bearish sessions.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.