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Bitcoin Cash Price Analysis: BCH stalls ahead of key trendline

  • Bitcoin Cash trades nearly 6% higher on Wednesday as crypto sentiment turns positive.
  • The price has found some selling pressure ahead of a key downtrend line.
Bitcoin Cash Price Analysis: BCH stalls ahead of key trendline
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

BCH/USD 4-hour chart

Bitcoin Cash has been moving higher on Wednesday and trades around 6% higher on the session. The price has now halted as you can see on the chart below just ahead of the black downward sloping trendline. The blue resistance line also held firm and it has been used around 4-5 times on the chart.

Looking closer at the indicators now, there has been a bearish cross of the 55 exponential and 200 simple moving averages. Also, the relative strength index indicator has moved into positive territory but has lots of room left to move to the upside. Lastly, if the price does move lower then the orange support level close to 225.00 could be a place where the bulls step in again. 

Bitcoin Cash Trendline Resistance

Additional levels

BCH/USD

Overview
Today last price232.3953
Today Daily Change12.6337
Today Daily Change %5.75
Today daily open219.7616
 
Trends
Daily SMA20235.9353
Daily SMA50234.9247
Daily SMA100306.3861
Daily SMA200268.9696
 
Levels
Previous Daily High223.7855
Previous Daily Low215.7607
Previous Weekly High245.5439
Previous Weekly Low206.3545
Previous Monthly High353.0056
Previous Monthly Low135.8533
Daily Fibonacci 38.2%220.72
Daily Fibonacci 61.8%218.8262
Daily Pivot Point S1215.7531
Daily Pivot Point S2211.7445
Daily Pivot Point S3207.7282
Daily Pivot Point R1223.7779
Daily Pivot Point R2227.7941
Daily Pivot Point R3231.8027

Author

Rajan Dhall, MSTA

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

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