Bitcoin Cash technical analysis: BCH/USD trending in a flag formation, gets ready for a breakout


  • BCH/USD went up from $304 to $307.20 this Tuesday.
  • Moving average convergence/divergence (MACD) shows increasing bullish momentum. 

BCH/USD daily chart

fxsoriginal

Over the last three sessions, BCH/USD is trending in a flag formation, getting primed for a breakout. This Tuesday the price has gone up from $304 to 307.20. Four days back, the price broke above the downward trending line and is above the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves. The moving average convergence/divergence (MACD) shows increasing bullish momentum.

BCH/USD 4-hour chart

fxsoriginal

The price broke above the green Ichimoku cloud and has found support on the upward trending line. The price has encountered resistance on the SMA 200 curve and is trending above the SMA 20 and SMA 50 curves. The Elliott oscillator has had two straight bullish sessions.

BCH/USD hourly chart

fxsoriginal

The hourly chart is experiencing bearish correction and has found support on the upward trending line. The price has dropped slightly from $307.20 to $307. The price is trending above the SMA 200, SMA 50 and SMA 20 curves. The relative strength index (RSI) indicator is trending around 57.80.

Key Levels

BCH/USD

Overview
Today last price 308.6977
Today Daily Change 4.5489
Today Daily Change % 1.50
Today daily open 304.1488
 
Trends
Daily SMA20 297.7179
Daily SMA50 311.5711
Daily SMA100 353.9236
Daily SMA200 304.3054
Levels
Previous Daily High 313.062
Previous Daily Low 297.5233
Previous Weekly High 306.3373
Previous Weekly Low 273.4963
Previous Monthly High 358.4945
Previous Monthly Low 267.0256
Daily Fibonacci 38.2% 303.4591
Daily Fibonacci 61.8% 307.1262
Daily Pivot Point S1 296.7608
Daily Pivot Point S2 289.3727
Daily Pivot Point S3 281.222
Daily Pivot Point R1 312.2995
Daily Pivot Point R2 320.4501
Daily Pivot Point R3 327.8382

 

 

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