- BCH/USD has gone up from $399.50 to $433.15 in the last five days.
- The price is currently trending in an upwards channel formation.
BCH/USD daily chart
BCH/USD has gone up from $419 to $433.15 in the early hours of Tuesday. Bitcoin Cash is currently in the middle of a 5-day bullish streak and is trending in an upwards channel formation. The latest session broke past the resistance offered by the 50-day simple moving average (SMA 50) curve, but it is still below the SMA 20 curve. The moving average convergence/divergence (MACD) curve shows that the signal line is about to cross over the MACD line, indicating a reversal in bearish momentum.
BCH/USD 4-hour chart
The SMA 20 curve has crossed over the SMA 50 curve, which is a bullish sign. Following the intersection, 4-hour BCH/USD has had three straight bullish sessions. These sessions have also broken past the triangle formation. The relative strength index (RSI) indicator is trending around 62.50. The latest price session has even gotten past the SMA 200 curve.
BCH/USD hourly chart
The hourly BCH/USD chart has found resistance on the $424.50 level. The three latest price sessions are trending above the red Ichimoku cloud. Eight out of the last nine sessions in the Elliot oscillator have been bullish.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.