Bitcoin Cash Technical Analysis: BCH/USD within potentially deadly ascending channel
|- Bitcoin Cash price on Friday trading in minor positive of just some 0.90% in the second half of the session.
- BCH/USD price action moving within a rising channel formation, observed via the daily chart view.
- In terms of news flow, Thailand’s SEC Actually removed Bitcoin Cash (BCH), Litecoin (LTC) And Ethereum Classic (ETC) From Crypto’s Eligible For ICO Fundraising. The regulatory body will only allow; Bitcoin (BTC), Ethereum (ETC), Ripple (XRP) and Stellar (XLM). Detailing that no cryptocurrency, even those on their approved list, are certified as legal tender in the country.
Spot rate: 130.63
Relative change: +0.90%
High: 131.73
Low: 129.06
Trend: Neutral
Trends:
Daily SMA20: 130.6954
Daily SMA50: 127.4616
Daily SMA100: 143.0479
Daily SMA200: 321.7172
Levels:
Previous Daily High: 132.7187
Previous Daily Low: 127.7779
Previous Weekly High: 150.0785
Previous Weekly Low: 119.129
Previous Monthly High: 156.9334
Previous Monthly Low: 109.9144
Daily Fibonacci 38.2%: 129.6653
Daily Fibonacci 61.8%: 130.8313
Daily Pivot Point S1: 127.2324
Daily Pivot Point S2: 125.0348
Daily Pivot Point S3: 122.2917
Daily Pivot Point R1: 132.1731
Daily Pivot Point R2: 134.9163
Daily Pivot Point R3: 137.1139
BCH/USD 60-minute chart
BCH/USD via the 60-minute chart view is moving within a bearish flag formation, subject to moves north.
BCH/USD daily chart
Price action moving within an ascending channel formation, subject to a potential breakout to the downside.
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.