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Bitcoin Cash technical analysis: BCH/USD has a bullish breakout from triangular formation

BCH/USD has gone up from $317 to $325 so far this Tuesday.
SMA 20 curve acts as immediate market resistance.

Rajarshi Mitra Independent Analyst

BCH/USD daily chart

Follow two straight bullish days the BCH/USD price chart has had a bullish breakout from the triangle formation. Over this Tuesday, the price has gone up from $317 to $325. The 20-day simple moving average (SMA 20) curve is acting as immediate market resistance and is looking to cross over the SMA 50 curve. The moving average convergence/divergence (MACD) indicator shows decreasing bearish momentum,

BCH/USD 4-hour chart

The 4-hour BCH/USD is currently consolidating within the triangle formation. The chart shows that the price went up from $317 to $324.55 before falling to $320.50. Since then, the price went back up to $325. The 4-hour market is currently trending below the red Ichimoku cloud. The Elliot oscillator has had ten straight bullish sessions.

BCH/USD hourly chart

The hourly BCH/USD market has found support on the upward trending line. BCH/USD has been struggling at the $324 resistance line before breaking out to $325. The SMA 20 curve is crossing over the SMA 200 curve, which is a bullish sign. The relative strength index (RSI) indicator is trending around 60.60.

Key Levels

BCH/USD

Overview
Today last price	324.4288
Today Daily Change	7.4288
Today Daily Change %	2.34
Today daily open	317

Trends
Daily SMA20	326.6768
Daily SMA50	339.0086
Daily SMA100	376.3128
Daily SMA200	284.7934

Levels
Previous Daily High	325.2039
Previous Daily Low	302.3226
Previous Weekly High	358.4945
Previous Weekly Low	267.0256
Previous Monthly High	428.8945
Previous Monthly Low	255.06
Daily Fibonacci 38.2%	316.4632
Daily Fibonacci 61.8%	311.0632
Daily Pivot Point S1	304.4804
Daily Pivot Point S2	291.9608
Daily Pivot Point S3	281.5991
Daily Pivot Point R1	327.3618
Daily Pivot Point R2	337.7235
Daily Pivot Point R3	350.2431

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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