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Bitcoin Cash technical analysis: BCH/USD bulls need to breakdown $425-50 range for greater upside pressure

  • Bitcoin Cash price on Thursday in the second half of the session is nursing losses of some 2%. 
  • BCH/USD like many of its peers' price action remains intact of a bullish pennant structure. 
  • The next major barrier to the upside is seen between $425-50 range. 
Bitcoin Cash technical analysis: BCH/USD bulls need to breakdown $425-50 range for greater upside pressure
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 408.88

Relative change:      -2.10%

High:                        418.00

Low:                         404.68

BCH/USD

Overview
Today last price408.88
Today Daily Change-7.4750
Today Daily Change %-1.80
Today daily open416.355
 
Trends
Daily SMA20409.6419
Daily SMA50378.9176
Daily SMA100304.0423
Daily SMA200218.9576
Levels
Previous Daily High420.0731
Previous Daily Low407.6011
Previous Weekly High424.9614
Previous Weekly Low371.0357
Previous Monthly High483.1092
Previous Monthly Low261.4551
Daily Fibonacci 38.2%415.3088
Daily Fibonacci 61.8%412.3654
Daily Pivot Point S1409.2797
Daily Pivot Point S2402.2044
Daily Pivot Point S3396.8076
Daily Pivot Point R1421.7517
Daily Pivot Point R2427.1484
Daily Pivot Point R3434.2238

BCH/USD 60-minute chart

  • Near-term ascending trend line via the 60-minute is providing necessary cushion for the bulls. 

BCH/USD daily chart

  • Bullish pennant continues to contain the price at present, still subject to a breakout north. 

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.

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