Bitcoin Cash Technical Analysis: BCH/USD within potentially deadly ascending channel

  • Bitcoin Cash price on Friday trading in minor positive of just some 0.90% in the second half of the session. 
  • BCH/USD price action moving within a rising channel formation, observed via the daily chart view. 
  • In terms of news flow, Thailand’s SEC Actually removed Bitcoin Cash (BCH), Litecoin (LTC) And Ethereum Classic (ETC) From Crypto’s Eligible For ICO Fundraising. The regulatory body will only allow; Bitcoin (BTC), Ethereum (ETC), Ripple (XRP) and Stellar (XLM). Detailing that no cryptocurrency, even those on their approved list, are certified as legal tender in the country.

 

Spot rate:               130.63

Relative change:    +0.90%

High:                       131.73

Low:                        129.06

 

Trend:                      Neutral

Trends:
    Daily SMA20: 130.6954
    Daily SMA50: 127.4616
    Daily SMA100: 143.0479
    Daily SMA200: 321.7172
Levels:
    Previous Daily High: 132.7187
    Previous Daily Low: 127.7779
    Previous Weekly High: 150.0785
    Previous Weekly Low: 119.129
    Previous Monthly High: 156.9334
    Previous Monthly Low: 109.9144
    Daily Fibonacci 38.2%: 129.6653
    Daily Fibonacci 61.8%: 130.8313
    Daily Pivot Point S1: 127.2324
    Daily Pivot Point S2: 125.0348
    Daily Pivot Point S3: 122.2917
    Daily Pivot Point R1: 132.1731
    Daily Pivot Point R2: 134.9163
    Daily Pivot Point R3: 137.1139

 

BCH/USD 60-minute chart

BCH/USD via the 60-minute chart view is moving within a bearish flag formation, subject to moves north. 

BCH/USD daily chart

Price action moving within an ascending channel formation, subject to a potential breakout to the downside.

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