Rajarshi Mitra
Independent Analyst
- BCH/USD is currently consolidating in a flag formation.
- The price of BCH/USD fell from $228.20 to $222.45 this Tuesday.
BCH/USD daily chart
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The price of BCH/USD has recovered to $224, following a bearish Tuesday, wherein the price of the asset fell from $228.20 to $222.45. The price is consolidating in a flag formation. The price has met immediate resistance at the 20-day Simple Moving Average (SMA 20) curve. The Relative Strength Index (RSI) indicator is trending around 40.60.
BCH/USD four-hour chart
-637067946527544707.png)
The four-hour price chart is currently floating inside the red Ichimoku cloud. BCH/USD found support on the $221.50 line and then went up. Immediate market resistance to overcome lies at $225. The Elliott Oscillator has had a bullish session following two straight bearish sessions.
BCH/USD hourly chart
-637067945738622544.png)
The hourly BCH/USD chart is sandwiched between the SMA 50 (on the upside) and SMA 20 (on the downside). The Moving Average Convergence/Divergence (MACD) indicator shows four straight bullish sessions of increasing intensity.
Key Levels
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