Bitcoin Cash technical analysis: Can bulls take BCH/USD back above $450?
|- BCH/USD went up from $413 to $422.75 so far this Friday.
- Technical analysis shows that the bulls are well and truly in control.
BCH/USD daily chart
BCH/USD went up from $413 to $422.75 so far this Friday. The daily market is trending in a triangle formation, getting primed for a breakout. On the upside, ETH/USD bulls need to get past resistance at $433.50. The BCH/USD market is trending above the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. Down below, the moving average convergence/divergence (MACD) indicator shows that the signal and MACD lines are trending close to each other. The signal line crossed over the MACD line, and then it went back down.
BCH/USD 4-hour chart
The latest session in the 4-hour market shows how dominant the bulls have been this Friday, that it went above the SMA 50 and SMA 20 curves and broke past resistance levels at $419.85, $421.50 and $422.75. The 20-day Bollinger jaw is narrowing, indicating decreasing market volatility. The 4-hour market has found support on the SMA 200 curve. Down below, the Elliot oscillator has had a bullish session after six straight bearish sessions.
BCH/USD hourly chart
The hourly BCH/USD found resistance on the red cloud of the Ichimoku indicator. Down below, the relative strength index (RSI) indicator, 65.60. It was looking to creep into the overbought zone before it started trending horizontally. The moving average convergence/divergence (MACD) indicator shows ten straight bullish sessions of increasing intensity. The Elliot oscillator has had 14 consecutive bullish sessions of growing intensity.
Key Levels
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