Bitcoin Cash Technical Analysis: BCH/USD falls below the $400 level
|BCH/USD Daily Chart
- BCH/USD went down from $416.85 to $396.
- The price had a bearish break out from the flag formation.
- On the downside, the nearest support level lies at $385.
- The price is trending above the SMA 200, SMA 50, and SMA 20 curves.
- The daily BCH/USD price finds support on the upward trending line.
- The relative strength index (RSI) indicator has crept out of the overbought zone.
BCH/USD 4-Hour Chart
- The 4-hour BCH/USD market has had a bearish breakout from the triangle formation.
- The 20-day Bollinger band has narrowed, which shows decreasing market volatility.
- The latest bearish session has breached the lower curve of the Bollinger band.
- The price is trending below the SMA 20 curve and above the SMA 50 and SMA 200 curves.
- The moving average convergence/divergence (MACD) indicator shows six consecutive bearish sessions.
BCH/USD Hourly Chart
- The hourly BCH/USD price has had a bearish breakout from the red cloud of the Ichimoku indicator.
- The future market sentiment will remain bearish as per the Ichimoku red cloud.
- The market found support on the $388 line and then bounced back up.
- The Elliot Oscillator shows four consecutive bearish sessions.
Key Levels
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