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Bitcoin Cash technical analysis: BCH/USD on course of charting five straight bearish days

  • BCH/USD has gone down from $291.90 to $290.80 so far today.
  • The RSI indicator in the four-hour chart has dipped into the oversold zone.

BCH/USD daily chart

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BCH/USD has had a bearish start to the day as the price went down from $291.90 to $290.80. Bitcoin Cash is on course of having five straight bearish days, wherein the price fell from $323.90 to $290.80. The daily price is trending below the 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves. The Moving Average Convergence/Divergence (MACD) has reversed from bullish to bearish.

BCH/USD four-hour chart

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The four-hour BCH/USD was trending above the red Ichimoku cloud. The second-last session was so bearish that the price plunged from $303.67 to $292, and going below the red cloud in the process. The Relative Strength Index (RSI) indicator has dipped down into the oversold zone. 

BCH/USD hourly chart

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The hourly BCH/USD chart is currently trending in a downward wedge formation and below the SMA 200, SMA 50 and SMA 20 curves. The Elliott Oscillator has had eight straight bearish days. The 20-day Bollinger jaw is expanding, indicating increasing market volatility.

Key Levels

BCH/USD

Overview
Today last price290.7194
Today Daily Change-1.2728
Today Daily Change %-0.44
Today daily open291.9922
 
Trends
Daily SMA20304.7814
Daily SMA50309.2202
Daily SMA100340.7367
Daily SMA200316.5482
 
Levels
Previous Daily High307.7279
Previous Daily Low290.2226
Previous Weekly High333.7339
Previous Weekly Low300.0488
Previous Monthly High358.4945
Previous Monthly Low267.0256
Daily Fibonacci 38.2%296.9096
Daily Fibonacci 61.8%301.0409
Daily Pivot Point S1285.5672
Daily Pivot Point S2279.1422
Daily Pivot Point S3268.0619
Daily Pivot Point R1303.0725
Daily Pivot Point R2314.1529
Daily Pivot Point R3320.5779


 

Author

Rajarshi Mitra

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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