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Bitcoin Cash Price Analysis: BCH/USD critical range breakout of $250-200 will spark an explosive move

Bitcoin Cash price is trading in the green, with gains of 5.80% in the second half of the session.
BCH/USD price action has offered little over the last five weeks, with an explosive range-breakout eyed.
A chunky upside barrier should be noted at $250, with support down at $200

Ken Chigbo Independent Analyst

BCH/USD daily chart

Trading conditions are tight, as the daily price action moves within a range-block.

BCH/USD 60-minute chart

Bulls enjoyed an explosive breakout from a narrowing range block formation, inviting a fresh wave of buying pressure.

Spot rate: 232.40

Relative change: +5.80%

High: 234.00

Low: 217.87

BCH/USD

Overview
Today last price	232.6556
Today Daily Change	12.8940
Today Daily Change %	5.87
Today daily open	219.7616

Trends
Daily SMA20	235.9353
Daily SMA50	234.9247
Daily SMA100	306.3861
Daily SMA200	268.9696

Levels
Previous Daily High	223.7855
Previous Daily Low	215.7607
Previous Weekly High	245.5439
Previous Weekly Low	206.3545
Previous Monthly High	353.0056
Previous Monthly Low	135.8533
Daily Fibonacci 38.2%	220.72
Daily Fibonacci 61.8%	218.8262
Daily Pivot Point S1	215.7531
Daily Pivot Point S2	211.7445
Daily Pivot Point S3	207.7282
Daily Pivot Point R1	223.7779
Daily Pivot Point R2	227.7941
Daily Pivot Point R3	231.8027

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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BCH/USD daily chart

BCH/USD 60-minute chart

BCH/USD

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