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Bitcoin Cash Technical Analysis: BCH/USD next extended move north eyed given bullish technical set up

  • Bitcoin Cash price on Wednesday is moving within the red, nursing minor losses of some 2.80%. 
  • BCH/USD price action via the daily chart view is moving within a bullish pennant pattern formation. 
  • 60-minute chart view sees price action well supported by an ascending trend line.
Bitcoin Cash Technical Analysis: BCH/USD next extended move north eyed given bullish technical set up
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  321.964

Relative change:      -2.80%

High:                         321.94

Low:                          304.15

BCH/USD

Overview
Today last price307.5643
Today Daily Change-8.5754
Today Daily Change %-2.71
Today daily open316.1397
 
Trends
Daily SMA20262.4975
Daily SMA50190.0937
Daily SMA100159.6538
Daily SMA200246.0988
Levels
Previous Daily High324.8787
Previous Daily Low303.5747
Previous Weekly High329.7426
Previous Weekly Low254.5428
Previous Monthly High172.9457
Previous Monthly Low120.5261
Daily Fibonacci 38.2%316.7406
Daily Fibonacci 61.8%311.7128
Daily Pivot Point S1304.85
Daily Pivot Point S2293.5603
Daily Pivot Point S3283.546
Daily Pivot Point R1326.154
Daily Pivot Point R2336.1684
Daily Pivot Point R3347.4581

BCH/USD 60-minute chart

  • Price action is being supported to the upside by an ascending trend line, preventing a free-fall south. 

BCH/USD daily chart

  • The daily time frame can see a bullish pennant pattern formation, subject to a breakout. 

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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