Bitcoin Cash Technical Analysis: BCH/USD price consolidating in a flag formation
|BCH/USD Daily Chart
- BCH/USD went down from $416.25 to $411 this Wednesday.
- The price is currently consolidating in a flag formation.
- On the downside, the nearest support level lies at $405.
- The market is trending above the SMA 200, SMA 50, and SMA 20 curves.
- The price is creeping on the edge of the overbought zone.
BCH/USD 4-Hour Chart
- The extreme squeeze of the 20-day Bollinger band shows decreasing market volatility.
- The last session of the 4-hour market has dropped into the lower half of the 20-day Bollinger band.
- The moving average convergence/divergence (MACD) indicator shows that market momentum has now become bearish.
BCH/USD Hourly Chart
- The Elliot wave oscillator shows seven consecutive bearish sessions.
- The hourly price is currently trending in a downward channel formation.
- The Ichimoku indicator shows that current and future market sentiment is bearish.
Key Levels
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.