Bitcoin Cash / USD Technical Analysis: Still Going Down

Bitcoin Cash / USD Technical Analysis: Still Going Down
ôîòî ïîêàçàíî ñ : cryptobriefing.com

2019-2-12 20:02

Bitcoin Cash remains bearish in the short-term but shows potential for a possible recovery Four-hour time frame shows the formation of a bullish pattern Medium-term bias for Bitcoin Cash is bearish with price still capped below its 50-day moving average Bitcoin Cash / USD Short-term price analysis

 

In the short-term, Bitcoin Cash remains bearish with the pair enjoying only fairly limited upside during the most recent cryptocurrency market rally. However, some bullish signs are starting to emerge for the BCH / USD pair, with a large inverted head and shoulders pattern now visible on the four-hour time frame.

 

Technical indicators appear primed for a near-term move higher if Bitcoin Cash can break above the falling price channel it is currently trapped in on the mentioned time frame.

 

Pattern Watch

The bullish inverted head and shoulders pattern and falling price channel are the most dominant themes on the four-hour time frames, although traders should note that price has recently been making lower lows and higher highs.

 

 

BCH / USD H4 Chart                                                                         (Source: TradingView)

 

 

Moving Average

The 200-period moving averages on the four-hour time frame highlights the key resistance area that bulls are currently struggling to break.

 

MACD Indicator

The MACD histogram is trending lower, while the signal line is crossing lower on the mentioned time frame.

 

Stochastic Indicator

The Stochastic indicator is showing significant scope for a strong recovery in the short-term, with the BCH / USD now appearing oversold on the four-hour time frame.

Bitcoin Cash / USD Medium-term price analysis

 

Bitcoin Cash remains bearish in the medium-term, with the BCH / USD pair largely range-bound despite the recent rally in the broader cryptocurrency market.

The pair’s 50-day moving average encapsulates the ongoing weakness in Bitcoin Cash, with medium-term bulls failing to mount a sustainable challenge above the 50-day since November last year.

Buyers also failed to rally the pair after a bullish breakout from a falling wedge pattern seen on the daily time frame.

 

Pattern Watch

Along with many other popular cryptocurrencies, traders should monitor the BCH / USD pair for signs that a longer-term price floor may be in the process of being established.

 

 

BCH / USD Daily Chart                                                                         (Source: TradingView)

 

 

MACD Indicator

The MACD histogram is currently inconclusive as the pair has been in a period of price consolidation with limited trading ranges.

 

Stochastic Indicator

The Stochastic Indicator on the mentioned time frame is moving away from extreme overbought conditions and starting to turn lower, this may be a bearish development in the medium-term.

Conclusion

 

Bitcoin Cash is bearish in the short and medium-term and has shown very few signs that a sustainable counter move is likely to occur anytime soon.

The formation of the inverted head and shoulders pattern on the lower time frame is a positive short-term development, although it may be prudent to wait for a bullish breakout to occur before reassessing the pair’s outlook.

 

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Bitcoin Cash
(BCH) Price $122.78 Market Cap $2,163,179,393.19 #ccpw-ticker-24550 .ccc-chart-header { background: #1c71ff} #ccpw-ticker-24550 #ccc-chart-block .exportBtnTop, #ccpw-ticker-24550 a.tabperiods.tabperiods_active, #ccpw-ticker-24550 .coin_details { color: #1c71ff; background: rgba(28,113,255,0.15); } #ccpw-ticker-24550 .coin_details { border: 1px solid rgba(28,113,255,0.16); } .ccpw-container_chart #ccpw-ticker-24550 .coin-container:after, .ccpw-container_four #ccpw-ticker-24550 .coin-container:after {border-color:#ccc !Important;} Join the conversation on Telegram and Twitter!

 

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still going bitcoin analysis down technical cash

still going → Ðåçóëüòàòîâ: 126


Ôîòî:

Blockchain investment still lags behind fintech despite record-breaking 2018

European blockchain technology companies had a record year in terms of VC investment in 2018, although overshadowed by funding going into financial technology (fintech) companies. According to Innovate Finance’s ‘2018 FinTech VC Investment Landscape‘ report , the European blockchain and cryptocurrency industry witnessed a series of significant deals, but notably just four deals amounted to over $300 million.

2019-2-12 18:30


Ôîòî:

Living on Bitcoin for a Week in San Francisco

When I decided, maybe against my better judgement, to live on bitcoin for a week, the plan was met by a combination of cautions and jokes from friends and loved ones: “Just don’t starve,” “Well, it’s the New Year, a perfect time to start a new diet,” “Will you be able to eat?”, “Have you really thought about it?”I had “really” thought about it and it seemed not only sensible but necessary.

2019-2-5 23:06


Ôîòî:

Bitcoin Price Analysis: Bulls Too Confident, Too Soon

After the sharp decline for Bitcoin price yesterday retesting the low $3,500s we take a closer look at whats going on with the market. Bitcoin Price: 4-Hour Bitcoin Chart Bitcoin price has failed to regain the critical $3750 point of control so far this week and is still consolidating under it after being rejected by the $4k handle and scuppering the short term hopes of an inverse head and shoulders bottom.

2019-1-16 17:00


Ôîòî:

10 reasons I’m still not switching to Bluetooth headphones

I’m lucky enough to be able to try out all the latest audio gear, so sometimes friends and family are surprised to see I’m not donning Bluetooth headphones. Why would someone who reviews tech for a living not be living the wireless life? While I certainly have access to more Bluetooth headphones than I need, more often than not, I’m reaching for my wired cans.

2019-1-2 10:00


Ôîòî:

Bitmain Reportedly Will Sack More Than Half of Workforce

The Chinese crypto mining company Bitmain has apparently been hit hard by the bear market and is looking to sack more than half of their entire workforce. Credible rumors of this story first began to circulate on Maimai, China’s equivalent to LinkedIn, as anonymous sources on a site frequently used by Bitmain employees began reporting that the company was looking at massive layoffs in the next several days.

2018-12-29 21:20


Ôîòî:

Bitmain Reportedly Will Sack Up to 85 Percent of Workforce

The Chinese crypto mining company Bitmain has apparently been hit hard by the bear market and is looking to sack more than half of their entire workforce. Credible rumors of this story first began to circulate on Maimai, China’s equivalent to LinkedIn, as anonymous sources on a site frequently used by Bitmain employees began reporting that the company was looking at massive layoffs in the next several days.

2018-12-27 21:20


New Bloomberg Report Shows Wall Street Banks Shun Bitcoin, Distance Away from Crypto Markets

In a recent report released by Bloomberg, recognized Wall Street firms such as Goldman Sachs, Morgan Stanley or Barclays, are still far from launching crypto-related products. During 2018, several analysts believed that these institutions were going to release crypto-related products to the market as soon as in the first part of 2019. Nevertheless, these products […]

2018-12-24 21:31