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Bitcoin Cash Technical Analysis: BCH/USD bulls have room to run, but most capitalize now

  • Bitcoin Cash price late in the session on Thursday is trading down in the red by around 1%. 
  • BCH/USD price action via the daily chart view has managed to escape a descending wedge formation. 
  • Given the recent technical development, the price has room to potentially retest the $300 price mark.

Spot rate:                 264.12

Relative change:     -1.30%

High:                        276.88

Low:                         261.56

BCH/USD

Overview
Today last price264.1281
Today Daily Change-3.7341
Today Daily Change %-1.39
Today daily open267.8622
 
Trends
Daily SMA20282.5756
Daily SMA50234.7165
Daily SMA100180.5705
Daily SMA200227.4598
Levels
Previous Daily High277.2721
Previous Daily Low261.4551
Previous Weekly High312.0003
Previous Weekly Low250.1141
Previous Monthly High352.3611
Previous Monthly Low166.4624
Daily Fibonacci 38.2%271.23
Daily Fibonacci 61.8%267.4972
Daily Pivot Point S1260.4542
Daily Pivot Point S2253.0461
Daily Pivot Point S3244.6372
Daily Pivot Point R1276.2712
Daily Pivot Point R2284.6802
Daily Pivot Point R3292.0882

BCH/USD 60-minute chart

  • Bitcoin Cash price action is moving within a near-term bullish flag formation, subject to a potential breakout higher. 

BCH/USD daily chart

  • Price action has edged out from a descending wedge pattern formation, leaving room for the bulls to capitalize on the breach.

Author

Ken Chigbo

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.

More from Ken Chigbo
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