Bitcoin cash technical analysis: Can bulls gather enough steam to go past $400?

BCH/USD daily chart

  • Following a bearish Tuesday, the bulls came back this Wednesday, taking the price up from $388 to $392.
  • The price is trending below the 20-day simple moving average (SMA 20) curve, but it is still above the SMA 50 and SMA 200 curves.
  • The market has found support on the upward trending line.
  • Currently, the market is trending relatively horizontally, within a range of $411.25-$377.75.
  • The Elliot oscillator shows 14 consecutive bearish sessions of increasing intensity.

BCH/USD 4-hour chart

  • The latest session in the 4-hour market has taken the price above the SMA 20 and SMA 50 curves and on the top half of the 20-day Bollinger band.
  • The narrowing of the Bollinger jaw indicates decreasing market volatility.
  • The signal line is diverging away from moving average convergence/divergence line (MACD) line showing increasing bullish momentum.
  • The SMA 200 curve has pierced through both the SMA 20 and SMA 50 curves and is trending above the 4-hour market. These are all heavily bearish signs.

BCH/USD hourly chart

  • The hourly BCH/USD market has pierced above the green Ichimoku cloud.
  • The hourly price had negotiated with the $392.35 resistance line twice before it finally managed to break through it.
  • Currently, the hourly market has had three straight bullish sessions.
  • The relative strength index (RSI) indicator has made a turn towards the overbought zone and is trending around 55.

Key levels


Today last price 392.3654
Today Daily Change 4.1674
Today Daily Change % 1.07
Today daily open 388.198
Daily SMA20 412.8305
Daily SMA50 354.5838
Daily SMA100 280.9608
Daily SMA200 210.3489
Previous Daily High 398.0403
Previous Daily Low 378.8571
Previous Weekly High 452.1883
Previous Weekly Low 362.9877
Previous Monthly High 483.1092
Previous Monthly Low 261.4551
Daily Fibonacci 38.2% 386.1851
Daily Fibonacci 61.8% 390.7123
Daily Pivot Point S1 378.6899
Daily Pivot Point S2 369.1819
Daily Pivot Point S3 359.5067
Daily Pivot Point R1 397.8732
Daily Pivot Point R2 407.5484
Daily Pivot Point R3 417.0564



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD daily confluence detector shows healthy support level at $10,075

Bitcoin has had an overwhelmingly bearish day wherein its price dropped from $10,771 to $10,135, reaching a low of $9,856. Over the last 2 days, Bitcoin has canceled out the gains made by the bulls in the 5 days before that.

More Bitcoin News

Ripple market overview: XRP/USD keeps sinking as bears retain control

XRP/USD has fallen from $0.266 to $0.265 in the early hours of Thursday. Over the last four days, the price of Ripple has fallen from $0.284 to $0.265. The hourly breakdown for Wednesday shows ...

More Ripple News

Israel Bitcoin Association appeals to make crypto policy public

Several Bitcoin traders in Israel have already filed cases against the banks of the country. On Monday, the traders lodged a formal petition demanding that the financial industry defines its crypto-asset policy. The crypto investors have been ruled out from depositing the returns on ...

More Cryptocurrencies News

Ethereum: Bulls try to end on a high following another overwhelmingly bearish day

Ethereum has ended up with a second bearish day in a row, wherein it fell from  $196.60 to $187. The hourly breakdown of the price shows that the price plummeted from $196.60 to $180 within 12 hours.

More Ethereum News


Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast