Bitcoin cash technical analysis: Bulls fail at $435-level as BCH/USD crashes down


  • BCH/USD has gone down from $434 to $412.50 this Saturday.
  • The daily chart is currently trending in a flag formation.

BCH/USD daily chart

The BCH/USD market is currently trending in a flag formation, as it went down from $434 to $412.50 this Saturday and has found support on the upward trending line. The market is also sandwiched between the 20-day simple moving average (SMA 20) and SMA 50 curves and is trending comfortably above the SMA 200 curve. The Elliot oscillator has had three straight bearish sessions. 

BCH/USD 4-hour chart

The 4-hour BCH/USD chart shows increasing bearish sentiment. The price was trending above the Ichimoku indicator before it dipped down and is currently trending inside the red cloud. The SMA 50 curve has crossed over the SMA 20 curve, which is a bearish sign. The latest session has also broken below the SMA 200 curve. The relative strength index (RSI) indicator is trending around 37.50. It was looking to dip inside the oversold zone but is now trending parallelly next to it.

BCH/USD hourly chart

The three latest sessions in the BCH/USD hourly chart are trending below the SMA 20, SMA 50 and SMA 200 curves.  The latest price session has crept below the lower curve of the 20-day Bollinger band. The Bollinger jaw is also narrowing, showing decreasing market volatility. The moving average convergence/divergence (MACD) indicator shows three straight bearish sessions.

Key Levels

BCH/USD

Overview
Today last price 415.8581
Today Daily Change -18.2304
Today Daily Change % -4.20
Today daily open 434.0885
 
Trends
Daily SMA20 429.7766
Daily SMA50 410.4758
Daily SMA100 332.0928
Daily SMA200 232.3364
Levels
Previous Daily High 438.1705
Previous Daily Low 394.8297
Previous Weekly High 515.8302
Previous Weekly Low 382.622
Previous Monthly High 483.1092
Previous Monthly Low 261.4551
Daily Fibonacci 38.2% 421.6143
Daily Fibonacci 61.8% 411.3859
Daily Pivot Point S1 406.5552
Daily Pivot Point S2 379.022
Daily Pivot Point S3 363.2144
Daily Pivot Point R1 449.8961
Daily Pivot Point R2 465.7037
Daily Pivot Point R3 493.2369

 

 

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