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Bitcoin Cash Price Analysis: BCH bounced off the 55 EMA to soar higher

  • Bitcoin Cash is the outperformer in the crypto market on Friday rising 4.23%.
  • The 55 EMA was used as a support level and the price has now broken a key trendline.
Bitcoin Cash Price Analysis: BCH bounced off the 55 EMA to soar higher
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

Bitcoin Cash 1-hour chart

Bitcoin Cash is one of the outperformers today as the whole cryptosphere received a bid. The price has managed to break and hold above the black trendline on the chart and now the potential resistance zone is at 267.85.

There have also been some confirmatory signals that the rally is valid. The main one is the fact that the volume is pushing higher inline with the trend. Another is the fact that the psychological zone at 250.00 was rejected and the price found support. 

Now there is a higher low higher high wave pattern and the relative strength indicator is not showing any signs that the momentum is falling. Beyond the red resistance line the green would be the next target at 275.95.

Bitcoin Cash Bid

Additional levels

BCH/USD

Overview
Today last price262.9416
Today Daily Change10.4336
Today Daily Change %4.13
Today daily open252.508
 
Trends
Daily SMA20242.599
Daily SMA50233.3231
Daily SMA100293.186
Daily SMA200270.7236
 
Levels
Previous Daily High256.7886
Previous Daily Low236.8739
Previous Weekly High275.7885
Previous Weekly Low234.3487
Previous Monthly High280.3806
Previous Monthly Low206.3545
Daily Fibonacci 38.2%249.1812
Daily Fibonacci 61.8%244.4813
Daily Pivot Point S1240.6584
Daily Pivot Point S2228.8088
Daily Pivot Point S3220.7437
Daily Pivot Point R1260.5731
Daily Pivot Point R2268.6382
Daily Pivot Point R3280.4878

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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