TRENDING:

GBP/USD

XAU/USD

Bitcoin Cash Price Analysis: BCH/USD bulls sustain a late bearish charge to keep the price above $225

BCH/USD has managed to stay in charge for the second straight day.
There was a brief retreat from the $225-zone, but the buyers have since restored order.
The MACD, however, shows sustained bearish momentum.

Rajarshi Mitra Independent Analyst

BCH/USD daily chart

BCH/USD bulls stayed in control for the second straight day as the price went up from $222.47 to $225.55. During the day, the price retreated slightly from the $225 level but has since peeked back into the zone. Despite the bullish price action of the last two days, the MACD shows that the market momentum is currently bearish.

Support and Resistance

BCH/USD has three strong resistance levels at $229.82, $234.85 (SMA 20) and $239.90. On the downside, there is healthy support at $216.75

Key levels

BCH/USD

Overview
Today last price	224.9374
Today Daily Change	2.4832
Today Daily Change %	1.12
Today daily open	222.4542

Trends
Daily SMA20	236.3152
Daily SMA50	239.3864
Daily SMA100	237.5413
Daily SMA200	269.0655

Levels
Previous Daily High	225.3721
Previous Daily Low	213.3598
Previous Weekly High	245.5386
Previous Weekly Low	226.1723
Previous Monthly High	277.2914
Previous Monthly Low	217.6786
Daily Fibonacci 38.2%	220.7834
Daily Fibonacci 61.8%	217.9485
Daily Pivot Point S1	215.4186
Daily Pivot Point S2	208.383
Daily Pivot Point S3	203.4063
Daily Pivot Point R1	227.431
Daily Pivot Point R2	232.4077
Daily Pivot Point R3	239.4433

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.