Bitcoin Cash Price Analysis: BCH/USD bears drop the price slightly below the green Ichimoku cloud

BCH/USD bears stepped back into the market following a bullish Tuesday.
The Elliott Oscillator is back in the red following Tuesday’s green session.
William’s %R is trending around -70.35, next to the oversold zone.

Rajarshi Mitra Independent Analyst

BCH/USD daily chart

BCH/USD bears stepped back into the market, following a bullish Tuesday, as the price dropped from $237.50 to $235.75. In the process, the price managed to dip back below the green Ichimoku cloud. The Elliott Oscillator is back in the red following Tuesday’s green session. The negative price action ensured that William’s %R is trending around -70.35, next to the oversold zone.

Support and Resistance

BCH/USD has four strong resistance levels at $238, $241, SMA 50 and SMA 20. On the downside, healthy support lies at $228.30 and $219.55.

Key levels

BCH/USD

Overview
Today last price	235.2497
Today Daily Change	-2.2674
Today Daily Change %	-0.95
Today daily open	237.5171

Trends
Daily SMA20	246.9542
Daily SMA50	244.2441
Daily SMA100	234.8756
Daily SMA200	267.8961

Levels
Previous Daily High	239.1493
Previous Daily Low	232.997
Previous Weekly High	258.9512
Previous Weekly Low	230.7717
Previous Monthly High	277.2914
Previous Monthly Low	217.6786
Daily Fibonacci 38.2%	236.7991
Daily Fibonacci 61.8%	235.3472
Daily Pivot Point S1	233.9596
Daily Pivot Point S2	230.4021
Daily Pivot Point S3	227.8073
Daily Pivot Point R1	240.1119
Daily Pivot Point R2	242.7068
Daily Pivot Point R3	246.2643

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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Bitcoin Cash Price Analysis: BCH/USD bears drop the price slightly below the green Ichimoku cloud