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Bitcoin Cash technical analysis: BCH/USD bullish flag subject to a potential breakout

Bitcoin Cash on Tuesday late in the session is trading in minor negative, nursing losses of just 0.10%.
BCH/USD price action breached a near-term ascending trend line, but buyers protect $400 mark.
The daily chart view can see the price moving within a bullish flag structure.

Ken Chigbo Independent Analyst

Spot rate: 417.69

Relative change: -0.10%

High: 428.89

Low: 410.61

BCH/USD

Overview
Today last price	417.7201
Today Daily Change	0.0061
Today Daily Change %	0.00
Today daily open	417.714

Trends
Daily SMA20	431.3246
Daily SMA50	420.5694
Daily SMA100	357.0866
Daily SMA200	248.3095

Levels
Previous Daily High	420.4
Previous Daily Low	406.0993
Previous Weekly High	449.2051
Previous Weekly Low	380.4645
Previous Monthly High	516.9074
Previous Monthly Low	362.9877
Daily Fibonacci 38.2%	414.9371
Daily Fibonacci 61.8%	411.5622
Daily Pivot Point S1	409.0756
Daily Pivot Point S2	400.4371
Daily Pivot Point S3	394.7748
Daily Pivot Point R1	423.3763
Daily Pivot Point R2	429.0385
Daily Pivot Point R3	437.677

BCH/USD 60-minute chart

60-minute chart view saw a breakout of a near-term ascending trend line, price caught by buyers at $400 territory.

BCH/USD daily chart

Price action via the daily continues to move within the confinements of a bullish flag, subject to a potential breakout.

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

BCH/USD 60-minute chart

BCH/USD daily chart

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