Bitcoin Cash Price Analysis: BCH/USD bears remain in control for the fourth straight day as price drops below $230


  • William’s %R is trending inside the oversold zone, indicating that BCH/IUSD may experience bullish correction soon.
  • The SMA 50 is looking to cross over SMA 20 to chart a bearish cross pattern.
  • BCH/USD faces resistance at the SMA 50, SMA 20, $245.80, $264.25 and SMA 200. 

BCH/USD daily chart

BCH/USD daily chart

BCH/USD dropped from $228 to $226.57 as the price faced its fourth straight bearish day. As with the rest of the crypto market, BCH/USD had a devastating Thursday as well, where it plummeted from $239.70 to $228. The SMA 50 is looking to cross over SMA 20 to potentially chart a bearish cross pattern. William’s %R is trending inside the oversold zone, indicating that BCH/IUSD may experience bullish correction soon.

The bulls need to overcome resistance at SMA 50, SMA 20, $245.80, $264.25 and SMA 200 to reverse the current bearish market sentiment completely. The bears have to aim for the $215.20 and $203.05 support levels to maintain downward momentum.

Key levels

BCH/USD

Overview
Today last price 226.4565
Today Daily Change -1.5259
Today Daily Change % -0.67
Today daily open 227.9824
 
Trends
Daily SMA20 244.2956
Daily SMA50 240.6531
Daily SMA100 269.823
Daily SMA200 269.7699
 
Levels
Previous Daily High 242.7523
Previous Daily Low 220.3629
Previous Weekly High 265.4907
Previous Weekly Low 217.6786
Previous Monthly High 280.3806
Previous Monthly Low 206.3545
Daily Fibonacci 38.2% 228.9156
Daily Fibonacci 61.8% 234.1995
Daily Pivot Point S1 217.9795
Daily Pivot Point S2 207.9765
Daily Pivot Point S3 195.5901
Daily Pivot Point R1 240.3688
Daily Pivot Point R2 252.7552
Daily Pivot Point R3 262.7582

 

 

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