Bitcoin Cash Price Analysis: BCH/USD consolidating after a critical breakout


  • Bitcoin Cash price is trading in the green, with gains of 1.50% in the second half of the session.
  • BCH/USD price action remains narrow following the bulls pushing above a pennant. 
  • There is still much supply within the region of $225-50 that the bulls will need to break down. 

 

BCH/USD daily chart

Conditions via the daily have offered little in terms of direction. The price is capped to the upside at $230, to the downside at $200.

 

BCH/USD 60-minute chart

A range block is containing price action at present, the next breakout could be trend defining for the near-term. 

 

Spot rate:                223.88

Relative change:    +1.30%

High:                        228.17

Low:                         218.24

BCH/USD

Overview
Today last price 223.8576
Today Daily Change 2.8439
Today Daily Change % 1.29
Today daily open 221.0137
 
Trends
Daily SMA20 225.6865
Daily SMA50 326.4908
Daily SMA100 301.3517
Daily SMA200 275.1002
 
Levels
Previous Daily High 231.089
Previous Daily Low 213.4717
Previous Weekly High 245.8036
Previous Weekly Low 147.0667
Previous Monthly High 496.9345
Previous Monthly Low 299.0373
Daily Fibonacci 38.2% 220.2015
Daily Fibonacci 61.8% 224.3592
Daily Pivot Point S1 212.6273
Daily Pivot Point S2 204.2409
Daily Pivot Point S3 195.01
Daily Pivot Point R1 230.2445
Daily Pivot Point R2 239.4754
Daily Pivot Point R3 247.8618

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD may retest SMA200 weekly if $6,500 is not retaken any time soon.

BTC/USD is hovering around $6,300, down 1% on a day-to-day basis. The first digital coin has been moving within a short-term bearish trend amid expanding volatility.

More Bitcoin News

Ripple Price Prediction: XRP/USD short-term bulls aim at $1780

Ripple (XRP) has been range-bound recently. The third-largest coin settled above $0.1700, which is a good signal, but the further upside seems to be limited so far.

More Ripple News

ETH/USD locked in a range; short-term recovery capped by $134.40

ETH/USD is changing hands at $132.00, mostly unchanged both on a day-to-day basis and since the beginning of Wednesday. The second-largest digital asset has been moving within a short-term bearish trend amid high volatility. 

More Ethereum News

Triangle pattern breakout hints BCH/USD rally beyond $250

Bitcoin Cash price if dealing with increased selling activity on Wednesday just like the other major cryptocurrencies. BCH/USD is down 1.33% on the day while the price hovers above the initial short term support at $214.

More Bitcoin Cash News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Coronavirus will either kill Bitcoin or make it stronger

Bitcoin is about to finish the second positive week in a row. The first digital coin has recovered from $5,680 and came close to psychological $7,000 during the week.

Read the weekly forecast

BTC

ETH

XRP