Bitcoin Cash Price Analysis: BCH/USD Consolidating Losses Above $500

2018-9-7 07:08

Key Points Bitcoin cash price started consolidating losses after trading as low as $485 against the US Dollar. There is a short-term ascending channel forming with resistance at $530 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair needs to surpass the $530 and $535 level to correct towards the $550 and $555 resistances.

Bitcoin cash price is holding the $500 support against the US Dollar. BCH/USD may trade above the $535 resistance to test the $555 resistance in the near term.

Bitcoin Cash Price Correction

Yesterday, we saw a sharp downside move in bitcoin cash price from well above the $600 level against the US Dollar. The BCH/USD pair even broke the $550 support and traded below $500 and the 100 hourly simple moving average. It traded as low as $485 and later started an upside correction. It slowly moved above the $500 level and the $505 resistance.

Recently, buyers were able to push the price above the $520 level. Moreover, there was a break above the 23.6% Fib retracement level of the last slide from the $533 swing high to $485 low. However, there are many resistances on the upside near the $530 and $535 levels. There is also a short-term ascending channel forming with resistance at $530 on the hourly chart of the BCH/USD pair. If there is a break above the channel resistance, the price could break the $535 resistance. Above $535, the next major hurdle is near the $550-555 zone. The 50% Fib retracement level of the last slide from the $533 swing high to $485 low is also at $559.

Looking at the chart, BCH price may correct higher in the short term, but upsides are likely to be capped by $535 or 555.

Looking at the technical indicators:

Hourly MACD – The MACD for BCH/USD is slightly placed in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BCH/USD is currently above the 50 level.

Major Support Level – $500

Major Resistance Level – $530

The post Bitcoin Cash Price Analysis: BCH/USD Consolidating Losses Above $500 appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin Cash (BCH) на Currencies.ru

$ 440.57 (-2.42%)
Объем 24H $392.59m
Изменеия 24h: -2.57 %, 7d: -18.07 %
Cегодня L: $440.57 - H: $460.11
Капитализация $8.726b Rank 19
Цена в час новости $ 458.18 (-3.84%)

losses bitcoin consolidating usd cash price bch

Источник: newsbtc.com

losses bitcoin → Результатов: 126


Bitcoin Triggers First Sell Signal Since Last Month While S&P 500 Moves Closer to ATH

Today, the markets have been extending the losses from yesterday. Not just bitcoin but stocks also started by incurring losses despite better than expected retail sales and stable unemployment data, but as economist and trader Alex Kruger said, “the market has stopped reacting to it in the past few weeks.” What has been affecting the […]

2020-7-17 15:36


Consecutive Losses for Tron [TRX] – Price Outlook Changes From Bullish to Bearish

For much of 2018, there has been a reoccurring trend in the crypto markets. When Bitcoin falls, altcoins fall but fall further. When Bitcoin rises, altcoins rise but rise higher. However, for much of 2018 the crypto market has been in a downtrend, and last week when Bitcoin blasted through $6850 as noted here, this […] Consecutive Losses for Tron [TRX] – Price Outlook Changes From Bullish to Bearish was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-7-23 20:01


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Spanish City Lebrija Launches Local Virtual Currency ‘Elio’

The city council of Lebrija has created a virtual currency ‘Elio’ that can only be used for payments made to small and medium businesses, according to a report by Diario de Sevilla. Read more: Spain’s Second-Largest Bank Will Soon Launch Crypto Services: Sources

Bitcasino Announces XRP Support, Bringing Fast Transactions and Low Fees to the Game

Bitcoin Press Release: Leading bitcoin casino Bitcasino has added support for the third largest cryptocurrency XRP, allowing all platform users to bet with ripple.    16 April 2020 – The world’s first licensed Bitcoin-led casino operator, Bitcasino, now accepts Ripple payments, making XRP the next cryptocurrency to enjoy the casino’s wide range of games.