Bitcoin Cash technical analysis: Bears continue their stranglehold on the BCH/USD market

  • BCH/USD went down from $412.45 to $406.45 in the early hours of Friday.
  • The latest price session in the daily chart has taken BCH/USD below the 20-day simple moving average (SMA 20) chart.

BCH/USD daily chart

The hourly BCH/USD market is trending in a triangle formation, getting primed for a possible breakout. The market finds immediate resistance at the 20-day simple moving average (SMA 20) curve and has found support on the upward trending line. The market is still trending above the SMA 50 and SMA 200 curves. In the early hours of Friday, the price of BCH/USD has fallen from $413 to $406.75. The moving average convergence/divergence (MACD) indicator shows us that the signal line is looking to cross-over the MACD line, revealing decreasing bearish momentum.

BCH/USD 4-hour chart

The 4-hour BCH/USD price chart is trending below the red Ichimoku cloud. The upcoming green cloud shows that market sentiment may be turning bullish. During Thursday, the price went up from $400.45 to $418.45 within 4 hours. After that, the bears stepped in and took the price down to  $406.40 over the next 12 hours. The 4-hour market is trending above the SMA 20, SMA 50 and SMA 200 curves. The relative strength index (RSI) indicator was trending in the overbought zone and then it went down to the neutral zone.

BCH/USD hourly chart

The hourly BCH/USD market has had a bearish breakout from the triangle formation. The 20-day Bollinger band’s widening jaw shows that the market volatility is increasing and the SMA 20 curve is trending above the four latest sessions. The hourly market is still trending above the SMA 200 and SMA 50 curves. The Elliot oscillator has had nine straight bearish sessions.

Key Levels


Today last price 406.4307
Today Daily Change -5.5241
Today Daily Change % -1.34
Today daily open 411.9548
Daily SMA20 412.5775
Daily SMA50 359.1507
Daily SMA100 286.5415
Daily SMA200 211.8695
Previous Daily High 424.9614
Previous Daily Low 395.1188
Previous Weekly High 452.1883
Previous Weekly Low 362.9877
Previous Monthly High 483.1092
Previous Monthly Low 261.4551
Daily Fibonacci 38.2% 413.5616
Daily Fibonacci 61.8% 406.5187
Daily Pivot Point S1 396.3952
Daily Pivot Point S2 380.8357
Daily Pivot Point S3 366.5526
Daily Pivot Point R1 426.2378
Daily Pivot Point R2 440.5209
Daily Pivot Point R3 456.0804



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