TRENDING:
Oil price
XAU/USD
EUR/USD
GBP/USD
Silver
Sponsored by
Login
|

Bitcoin Cash Technical Analysis: Nice technical pattern formation on the hourly chart

  • Bitcoin Cash is marginally lower today trading 0.22% down for the session.
  • The hourly chart has formed a triangle formation and price is headed toward the apex.
Bitcoin Cash Technical Analysis: Nice technical pattern formation on the hourly chart
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

BCH/USD 1-Hour Chart

Over the last month, the price of Bitcoin Cash has capitulated from a high of around 308.13 to a low of 192.24.

Since then there has been a small retracement and we find the price in a small retracement phase. 

Now the market needs to decide if the downtrend on the higher timeframe will continue. 

A break of the pattern will go a long way to help make that decision. 

The good news for the bulls is the price is still holding above the 200 psychological level.

Bitcoin Cash

Additional Levels

BCH/USD

Overview
Today last price213.7426
Today Daily Change-0.3396
Today Daily Change %-0.16
Today daily open214.0822
 
Trends
Daily SMA20233.3202
Daily SMA50249.0333
Daily SMA100260.7943
Daily SMA200317.4677
 
Levels
Previous Daily High216.3682
Previous Daily Low209.7002
Previous Weekly High226.9456
Previous Weekly Low192.2474
Previous Monthly High308.1348
Previous Monthly Low192.2474
Daily Fibonacci 38.2%212.2474
Daily Fibonacci 61.8%213.821
Daily Pivot Point S1210.3989
Daily Pivot Point S2206.7155
Daily Pivot Point S3203.7308
Daily Pivot Point R1217.0669
Daily Pivot Point R2 220.0516
Daily Pivot Point R3 223.7349

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

More from Rajan Dhall, MSTA
Share:

Editor's Picks

XRP extends recovery as ETF inflows, futures interest stabilize

XRP extends recovery as ETF inflows, futures interest stabilize

Ripple (XRP) ticks higher, trading at $1.42 on Wednesday while building on a recently confirmed support range between $1.30 and $1.35. The token also sits above major moving averages, reinforcing the bullish outlook. However, upside could remain capped unless the psychological barriers at $1.50 and $1.70 are cleared, paving the way for an extended recovery above $2.00.
Crypto Today: Bitcoin, Ethereum, XRP regain strength as US Treasury doubles down on buybacks

Crypto Today: Bitcoin, Ethereum, XRP regain strength as US Treasury doubles down on buybacks

Bitcoin (BTC) is trending higher alongside other major cryptocurrencies on Wednesday. Ethereum (ETH) has reclaimed $2,500 as short-term support, raising the odds that the uptrend will gain momentum. Meanwhile, Ripple (XRP) shows signs of recovery, trading near $1.44 while supported by key moving averages.
Bitcoin climbs as Oil tops $100, equities drop after Iran strikes

Bitcoin climbs as Oil tops $100, equities drop after Iran strikes

Bitcoin rose as much as 1.6% since midnight UTC to $79,742 as U.S. Central Command said it destroyed five Iranian oil tankers on Tuesday night and Tehran responded with missile strikes on American bases in Jordan. Brent crude topped $100 a barrel for the first time since July. The largest cryptocurrency was recently trading near $79,000. Ether is 0.3% higher at $2,490 and XRP has added 0.4% to $1.42
Zcash breaks above 2018 highs, eyes 1600–2500 [Video]

Zcash breaks above 2018 highs, eyes 1600–2500 [Video]

We have talked extensively about the bullish outlook for Zcash (ZECUSD) over the past year, repeatedly highlighting the potential for a move back toward the 2018 highs and the $1,000 area. As anticipated, Zcash has now broken above its 2018 highs and pushed into the $1,000 region. The key question now is: how much upside remains?
Bitcoin: Gearing up for a sharp move

Bitcoin: Gearing up for a sharp move

Bitcoin (BTC) is trading around $81,000 on Friday, up over 4% so far this week, and awaits a key catalyst that could determine its next directional move. Strong institutional demand is supporting the bullish price action, with spot BTC Exchange Traded Funds (ETFs) on track to record a third straight week of inflows.