Bitcoin Cash technical analysis: BCH/USD falls towards $228 support level after getting lethargic around $235


  • The daily BCH/USD chart shows bullish momentum despite two straight bearish days.
  • BCH/USD will need to go up to $242 to trend above the SMA 20 curve.

BCH/USD daily chart

fxsoriginal

BCH/USD has gone down from $231.65 to $229.60 so far today and is in the process of charting two straight bearish days in a row. The price is trending below the 200-day, 50-day and 20-day Simple Moving Average (SMA 200, SMA 50 and SMA 20) curves. The price will need to go up to $242 to trend above the SMA 20 curve. The Moving Average Convergence/Divergence shows that market momentum is bullish despite bearish movement.

BCH/USD four-hour chart

fxsoriginal

The four-hour BCH/USD chart is trending below the red Ichimoku cloud. The four-hour price has found resistance at $235.50 and $231.70 and is trending above the SMA 20 and SMA 50 curves. The Elliott oscillator shows us four straight bearish sessions.

BCH/USD hourly chart

fxsoriginal

The hourly price has dropped below the triangle formation and the SMA 20 and SMA 50 curves. The SMA 50 is about to cross over the SMA 20 curve, which is a bearish sign. The 20-day Bollinger band has narrowed, indicating decreasing market volatility, while the Relative Strength Index (RSI) indicator has dipped below 50.

Key Levels

BCH/USD

Overview
Today last price 229.5263
Today Daily Change -2.1256
Today Daily Change % -0.92
Today daily open 231.6519
 
Trends
Daily SMA20 246.5231
Daily SMA50 279.2017
Daily SMA100 308.3635
Daily SMA200 322.8686
 
Levels
Previous Daily High 239.562
Previous Daily Low 227.324
Previous Weekly High 235.7682
Previous Weekly Low 212.0442
Previous Monthly High 333.7339
Previous Monthly Low 202.6094
Daily Fibonacci 38.2% 231.9989
Daily Fibonacci 61.8% 234.8871
Daily Pivot Point S1 226.1299
Daily Pivot Point S2 220.6079
Daily Pivot Point S3 213.8919
Daily Pivot Point R1 238.3679
Daily Pivot Point R2 245.084
Daily Pivot Point R3 250.6059

 


 

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