Bitcoin Cash Technical Analysis: BCH/USD down from $289 to $282.60
|BCH/USD Daily Chart
- BCH/USD went down from $289 to $282.60 as markets opened this Wednesday.
- The market has been trending below the SMA 20 curve for the last four sessions.
- The market is currently trending in a downwards channel formation.
- The SMA 200 and SMA 50 curves are on course for a golden cross formation.
- The signal line is diverging away from the MACD line indicating increased bearish momentum.
- Bulls need to protect $282 support line.
BCH/USD 4-Hour Chart
- The BCH/USD 4-hour price has currently found support on the green cloud of the Ichimoku indicator.
- The upcoming Ichimoku cloud is bearish.
- The Elliot Wave Oscillator shows bearish sentiment.
BCH/USD Hourly Chart
- The last three sessions of the hourly BCH/USD chart has taken the price below the 20-day Bollinger band.
- The widening of the band shows increasing market volatility.
- The relative strength index (RSI) indicator has crept into oversold territory.
Key Levels
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.