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Bitcoin Cash Technical Analysis: BCH/USD consolidates into a technical pattern

  • Bitcoin Cash trades 0.21% lower in a lacklustre session.
  • There is a consolidation pattern forming as traders wait for a catalyst for a move.
Bitcoin Cash Technical Analysis: BCH/USD consolidates into a technical pattern
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

Bitcoin Cash Hourly Chart

Bitcoin Cash is still bearish on the daily chart but on the hourly chart below the price has formed a consolidation pattern.

Now the market is stuck between 203.52 and 209.02. 

The waves at the top of the pattern are descending but we are likely to see a break soon.

Volume has just improved to the upside and a push past 207.50 would break the pattern.

On the downside, there is also a psychological support at 200.00.

Bitcoin Cash

Bitcoin Cash Additional Levels

BCH/USD

Overview
Today last price206.5394
Today Daily Change-0.1459
Today Daily Change %-0.07
Today daily open206.6853
 
Trends
Daily SMA20212.2156
Daily SMA50246.9759
Daily SMA100253.275
Daily SMA200309.0338
 
Levels
Previous Daily High208.1512
Previous Daily Low204.0233
Previous Weekly High220.5853
Previous Weekly Low202.9433
Previous Monthly High308.1348
Previous Monthly Low192.2474
Daily Fibonacci 38.2%206.5743
Daily Fibonacci 61.8%205.6001
Daily Pivot Point S1204.422
Daily Pivot Point S2202.1587
Daily Pivot Point S3200.2941
Daily Pivot Point R1208.5499
Daily Pivot Point R2210.4144
Daily Pivot Point R3212.6777

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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