TRENDING:

GBP/USD

XAU/USD

Bitcoin cash technical analysis: BCH/USD re-enters $400, forms a morning star pattern

BCH/USD is currently priced at $406.
The SMA 20 and SMA 50 curves are trending above the daily price chart.

Rajarshi Mitra Independent Analyst

BCH/USD daily chart

The three latest sessions of the BCH/USD price chart has formed a morning star pattern, which is a bullish sign. It is trending below the 20-day simple moving average (SMA 20) and SMA 50 curves and above the SMA 200 curve. The relative strength index (RSI) indicator is trending around 50 in the neutral zone.

BCH/USD 4-hour chart

The 4-hour BCH/USD is trending below the green Ichimoku cloud. The 4-hour market found support on the $400-level and needs to next negotiate with the $410 resistance level. The Elliot oscillator has had three straight bullish sessions, following six consecutive bearish sessions.

BCH/USD hourly chart

The hourly BCH/USD is trending in the upper-half of the 20-day Bollinger band. The Bollinger jaw is also narrowing, which shows decreasing market volatility. The two latest price sessions are trending in a flag formation, getting primed for a breakout. The hourly market is below the SMA 200 and SMA 50 curves, while it is above the SMA 20 curve. The moving average convergence/divergence (MACD) indicator has had 16 straight bullish sessions of increasing intensity.

Key Levels

BCH/USD

Overview
Today last price	405.2876
Today Daily Change	5.2380
Today Daily Change %	1.31
Today daily open	400.0496

Trends
Daily SMA20	433.0919
Daily SMA50	418.7206
Daily SMA100	349.7955
Daily SMA200	243.2988

Levels
Previous Daily High	410.58
Previous Daily Low	390.7258
Previous Weekly High	449.2051
Previous Weekly Low	380.4645
Previous Monthly High	516.9074
Previous Monthly Low	362.9877
Daily Fibonacci 38.2%	402.9957
Daily Fibonacci 61.8%	398.3101
Daily Pivot Point S1	390.3235
Daily Pivot Point S2	380.5975
Daily Pivot Point S3	370.4693
Daily Pivot Point R1	410.1778
Daily Pivot Point R2	420.306
Daily Pivot Point R3	430.032

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.